MADISON, Wis. (1/12/16)--As the new year begins so do the official relationships between newly merged credit unions and announcements of new collaborations.
Among the recent announcements:
In Austin, Texas, National West Life FCU (NWLFCU) merged with Austin Telco FCU (ATFCU). NWLFCU’s 350 members will now have expanded account access and services including 24 locations, free checking and more than 300 free ATMs. “Both the NWLFCU and ATFCU board were unanimous in their approval of the merger,” said James Poplin, ATFCU president/CEO (Leaguer Jan. 8).
Day Air CU, Kettering, Ohio, finalized its merger with Countywide FCU, Beavercreek, Ohio, effective Jan. 31. The combined credit unions, operating under the Day Air CU name, will have six full-service locations in the Dayton, Ohio, area.
A proposed merger announced in October by Lake Michigan CU, Grand Rapids, Mich., and United FCU (UFCU), St. Joseph, Mich., has been halted by mutual agreement. According to the credit unions’ release, “both organizations have come to the mutual conclusion that they are better served by remaining independent in order to deliver the utmost value to their members.” LMCUPresident/CEO Sandy Jelinski said, “We greatly appreciate the opportunity to get to know the team at UFCU and believe our healthy partnership discussions led us to realize we each have unique attributes, members and communities that should remain distinct.” Added Gary Easterling, UFCU president/CEO: “This was the case of two strong organizations coming together, and in the end we both believed our best path forward was to be independent. We gained valuable insight and have great takeaways from the process.”
Two Wisconsin-based credit unions--Southshore CU, Cudahy, and First CU, Oak Creek--merged with TruStone Financial FCU, Plymouth, Minn., effective Jan. 1. With the addition, TruStone Financial will have nearly 95,000 members and 13 branch locations across Minnesota and Wisconsin.
Great Lakes CU, Bannockborn, Ill., added a prime location in Chicago--the AT&T Corporate Center--with its merger with the city’s Phone-Co CU. Great Lakes now has 14 locations in the Chicagoland area.
Credit Union of Southern California (CU SoCal), Anaheim, Calif., and Fairview Employees FCU, Costa Mesa, Calif., came together in December. CU SoCal President/CEO Dave Gunderson will remain as president/CEO, and FEFCU President/CEO Chris Coursen will serve the combined organization in an advisory capacity.
W.H. Nichols Employees FCU, Devens, Mass., officially merged with Hanscom FCU, Hanscom AFB, Mass., effective Jan. 1. The 256-member credit union had one branch and no full-time employees.