Truliant to absorb Piedmont Advantage, creating a $6B credit union
What's the deal? Piedmont Advantage Credit UnionDealroom has a profile for this one. Try Dealroom → members voted on August 25 to approve a merger with Truliant Federal Credit UnionDealroom has a profile for this one. Try Dealroom →. The two Winston-Salem-based institutions will legally combine on September 1, 2026, following regulatory approvals in June.
What changes? Piedmont Advantage, which serves about 28,000 members, will temporarily run as a division of Truliant. Members keep their existing branches, digital banking, and support channels until full system integration wraps by the end of the first quarter of 2027.
The numbers: The combined credit union will serve more than 355,000 members and run over 40 locations under the Truliant name and charter, with about $6 billion in assets. It will operate across North Carolina, South Carolina, and Virginia, led by Truliant president and CEO Todd Hall.
Why it matters: Piedmont Advantage members gain access to a larger branch network and wider range of services. Each organization has served members for more than 70 years, and the deal lets them pool resources for member service and community-focused banking.
"We are excited to welcome Piedmont Advantage members to Truliant and to build on the trust they have placed in this partnership," Hall said. He added that members "will gain greater convenience and expanded products."
Dion Williams, president and CEO of Piedmont Advantage, said the vote "reflects deep trust in our shared future," noting the relationships built "over 77 years only grow stronger under Truliant."
The signal: Credit union consolidation continues as smaller institutions seek scale to compete on products and technology. Truliant, already a top 100 US credit union, is bolting on a regional player to widen its footprint rather than build from scratch.
Read more: morningstar.com
Image credit: w_lemay
