DEKALB, Ill.–Four credit unions have announced plans to merge and become two.
The $6-million Dekalb County Credit Union said its members have voted in favor of merging into the $600-million Vibrant Credit Union.
"Vibrant is excited to share our culture and state of the art technology with Dekalb County Credit Union’s membership,” said Matt McCombs, president and CEO of Vibrant CU, in a statement. “This is an exciting time and we believe we can really focus and improve financial opportunities and innovations to enhance the overall member experience.”
Dekalb County Credit Union’s single location will remain open, becoming a Vibrant location.
Separately, in Richmond, Va., the $2.6-million Virginia Boxer FCU—founded to serve a box factory–said it is boxing up its contents and merging into the $76-million Connects FCU. The combined CU will serve approximately 9,800 members.
Virginia Boxer CU had been managed and run by Grace Siple since 1986.
Connects was founded in 1950 as Chesapeake & Potomac Telephone Employees Federal Credit Union, which today is Verizon. It has also expanded to a community charter and to serve certain SEGS.