MADISON, Wis. (8/16/13)--A merger between Dupaco Community CU, with $1.067 billion in assets, in Dubuque, Iowa, and Iowa Community CU, with $80.9 million in assets, Cedar Rapids, Iowa, is among the latest credit union consolidations recently announced.
The organization will continue as Dupaco Community CU, the credit unions said. The combined institution will have 18 branches and more than 80,000 members.
The agreement is the first formal step in a process. After due diligence, the arrangement is subject to state and federal regulatory approval, and a vote by the Iowa Community CU membership. Pending all necessary approvals, the intended merger is expected to be completed sometime during the first quarter of 2014.
Other recently announced mergers include: