NASHVILLE, Tenn., and LOUISVILLE, Ky. (6/24/14)--During a closed meeting last week, the National Credit Union Administration board approved the merger of Volunteer Corporate CU (VolCorp), Nashville, Tenn., and Kentucky Corporate CU.
The membership of the Louisville, Ky.-based corporate will vote today during a special meeting. Once that vote is certified, the merger will need final approval from the Tennessee Department of Financial Institutions.
"The addition of Kentucky members will allow VolCorp to continue to be very competitive on pricing, yet remain small enough to provide a high level of service to each of our members," said VolCorp President/CEO Rick Veach.
Marsha Hahn, president/CEO, Kentucky Corporate, noted, "We truly appreciate the patience and encouragement our member credit unions have shown throughout the merger process. The strong member service culture at VolCorp will not only allow Kentucky credit unions to continue receiving the high level of member service they are accustomed to, but provide them with the opportunity for additional products and services."
With the addition of Kentucky Corporate, VolCorp will have assets of roughly $1.4 billion with more than 400 members.