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Home » CU System brief
CU System

CU System brief

March 9, 2016

MADISON, Wis. (3/9/16)--A number of credit unions have announced merger plans. Dexter CU, Central Falls, R.I., will merge with Navigant CU, Smithfield, R.I., effective April 10. “Even though we have had success in rebuilding our infrastructure and diversifying our delivery system and income stream, it became very apparent that an organization of our size could not obtain the critical mass needed to succeed in this very competitive industry,” said Stephen Angell, Dexter CU president/CEO, in a statement. “We feel very confident that becoming part of Navigant Credit Union is in the best interests of our members as it will provide them with a greater breadth and scope of products and services.” With the addition of Dexter CU’s 16,000 members, Navigant CU will have more than 80,000 members. The merger between Menard CU, Chester, Ill., and SIU CU, Carbondale, Ill., has been finalized. SIU CU President/CEO Dennis Schaefer will lead the combined organization. Two Jefferson City, Mo., credit unions announced their merger. The boards of First Financial CU and River Region CU approved the move (News Tribune March 6). Rick Nichols will serve as president/CEO of the continuing credit union, which will operate under the River Region CU name. In a cross-border agreement, Warren FCU, Cheyenne, Wyo., and Community Financial CU, Broomfield, Colo., announced an April 1 merger that will result in a new name for the Front Range credit unions. Blue FCU reflects the unifying color of the two organizations and their previous logos, said Warren FCU President/CEO Stephanie Teubner, who will serve as CEO. “To us, it speaks to aspirational thinking, and represents the ascending mountains and endless skies of the places we call home,” she added. Community Financial CU’s CEO/President Greg Hill will serve as president ...

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