MATOON, Ill.– MidWest America Federal Credit Union (MWAFCU) has agreed to sell its branch in Matoon, Ill. to Land of Lincoln Credit Union.
Under this agreement, LLCU will take over branch operations at the Lake Land Boulevard location effective August 2nd. Land of Lincoln CU said it will retain all current MWAFCU staff and provide membership opportunity for MWAFCU’s nearly 3,000 members in Matoon.
The $794-million MWAFCU is based in Ft. Wayne, Ind., and said it plans to exit the market. It currently operates a significant number of branches in Indiana, Kentucky and Illinois.
The $336.5-million Land of Lincoln CU already has a presence in the Mattoon community with a branch located at 720 Broadway that has been open and serving members for more than 10 years. They are an active community partner in Mattoon, making an abundance of donations and sponsorships to various non-profit and civic organizations, throughout the Mattoon-Charleston area.
‘Committed to Staff’
“It was extremely important to us at MWAFCU to find a partner that we knew would be committed to both our existing Mattoon staff, as well as our valued Mattoon members,” said Greg Mohr, MWAFCU president & CEO. “LLCU has a proven track record of being dedicated to the residents of Mattoon. We immediately knew it was the right organization to partner with for this transition.”
Current members of MWAFCU of Mattoon will be presented the opportunity to become a member of LLCU beginning in mid-May. Staff from both credit unions will be on-site at the Mattoon branch to assist members with this transition, the credit unions said.
“We could not be happier to welcome our new teammates and members to LLCU’s family,” added Robert Ares, president & CEO. “LLCU is dedicated to not only serving our members financial needs, but also supporting the Mattoon community, schools, non-profit, and civic organizations.”
MWAFCU is represented by Michael Bell, a partner and co-chair of the Financial Institutions Practice Group at Honigman, LLP, Kalamazoo, Mich.