Truliant and Piedmont Advantage to Merge, Creating a $6 Billion Regional Banking Force

WINSTON-SALEM, NC – April 22, 2026 – In a landmark move set to reshape the regional financial landscape, Truliant Federal Credit Union and Piedmont Advantage Credit Union (PACU) today announced a definitive agreement to combine their operations. The merger will create a formidable credit union with approximately $6 billion in assets, serving more than 360,000 members across over 40 locations.

The combined entity will operate under the Truliant name and charter, solidifying its position as one of North Carolina's largest credit unions. The move unites two Winston-Salem-based institutions, each with over 70 years of history, in a strategic play to enhance member value and community impact.

A Strategic Response to a Shifting Landscape

The decision represents a significant consolidation within the credit union sector, which faces increasing pressure from large national banks, agile fintech startups, and the ongoing costs of technological advancement. For smaller institutions like Piedmont Advantage, with its nearly 28,000 members and roughly $400 million in assets, the partnership provides a path to greater scale and long-term sustainability.

“This is a people-first partnership, grounded in shared values and a clear sense of purpose. It is a proactive, strategic decision that leverages our strengths and supports our evolution,” said Dion Williams, President and CEO of PACU. “We recognize an opportunity to deliver more to our members, employees, and communities.”

This merger marks a notable strategic evolution for Truliant. The credit union, which will become the state's third-largest and nearly rival the second-largest, Coastal Credit Union, once ran a marketing campaign in 2017 promising it would “never merge.” The shift underscores the rapidly changing dynamics of the financial industry, where scale is increasingly viewed as essential for competing on services, technology, and rates.

Building a Financial Powerhouse

The combination is not just about size, but about capability. By pooling their resources, the new Truliant aims to accelerate investment in digital banking tools, expand its range of financial products, and offer more competitive rates on loans and deposits. Truliant has already demonstrated financial acumen, establishing itself as a top Small Business Administration (SBA) loan originator and utilizing innovative capital-raising tools like subordinated debt to fuel growth.

“This is an opportunity to build on what both organizations already do so well. By bringing our teams together, we can expand our impact and deliver even more meaningful value for the members we serve each day,” said Todd Hall, President and CEO of Truliant, who will lead the combined organization. “We share the same values, the same commitment to people and community, and the same belief in doing what’s right for our members, and for each other.”

The leadership structure ensures continuity, with Hall at the helm and Williams remaining involved to assist with the transition. This approach is intended to smooth the integration of two distinct organizational cultures.

Focus on Member and Employee Continuity

Both credit unions have emphasized that the merger is designed to be a 'people-first' partnership. A key component of the announcement was the assurance that “few, if any, layoffs are expected.” While some roles may be redefined as the two organizations integrate, the stated focus is on leveraging the combined talent pool for future growth. Truliant's reputation as a desirable employer, including being named one of the '2026 Best Mortgage Companies to Work for,' lends credibility to this commitment.

For the members of both credit unions, the message is one of enhanced benefits and uninterrupted service. The merger promises access to a larger network of branches and ATMs, more robust digital services, and a wider array of financial products. Until the merger is finalized, both institutions will continue to operate independently.

“They will continue to receive the same level of attention they count on,” Williams assured PACU members.

The Path Forward

The merger is not yet a done deal. The agreement, while unanimously approved by both Boards of Directors, must now navigate a rigorous approval process. This includes securing clearance from federal and state regulators, most notably the National Credit Union Administration (NCUA). Crucially, the combination is also subject to a vote by the membership of Piedmont Advantage Credit Union.

If all approvals are obtained, the merger is expected to be finalized by early 2027. In the interim, both credit unions will begin the complex task of planning the integration of their systems, operations, and cultures. The combined entity is poised to not only continue but also expand upon its community commitments, leveraging the Truliant Foundation's work in financial literacy and social mobility to serve a broader population across the Carolinas and Virginia.