Thursday, April 7, 2011

Merger News: ClearPoint JoinsWith New York-Based Nonprofit

ClearPoint Credit Counseling Solutions, a nonprofit based in Richmond, Virginia, has announced plans to merge with Consumer Credit Counseling Service of Central New York.  However, it may take months before the deal is official because the merger need approval from regulatory agencies.  As part of the deal, Consumer Cedit Counseling Service will tak the name of the Richmond nonpofit, and the combined headquarters of the two organizations will stay in Virgnia.  In addition, a ClearPoint spokesman said that all of Consumer Credit Counseling's positions will "transition into reigonal positions," though employees are not expected to see many changes at this point.

This is certainly not the first time ClearPoint has been involved in a merger. Two years ago, it merged with ByDesign Financial Services, a Los Angeles-based nonprofit organization, in April of 2009.  In addition, when the current merger is completed, ClearPoint will have expanded its services into a 12th state. 

Want to read more about this merger?  Head on over to The Richmond Times-Dispatch.

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