Local credit unions’ merger given green light by state

Two large area credit unions — Allegent Community Federal Credit Union, based Downtown, and Riverset Credit Union on the South Side — expect to complete a merger in the fall, pending approval by members. The deal has been OK’d by the Pennsylvania Department of Banking and Securities and the National Credit Union Administration. Angelo Lucatorto, Allegent’s CEO, will continue in that post. Allegent has assets of $142.7 million vs. $114 million for Riverset. The combined company will retain the Allegent name.