DENVER–Credit unions in two different states have announced mergers.
The $2.5-million Mapleton Public Schools FCU is being absorbed via merger by the $1.56-billion Westerra Credit Union. Mapleton Public Schools FCU serves employees, students, graduates, retirees and families of Denver area school districts.
“Our credit unions have so much in common,” said Mapleton Public Schools Federal Credit Union Co-Chairman Sam Molinaro, “and this merger positions us even better to serve the financial needs of our members through additional branches, expanded service and a continued focus on financial education in our schools and our community.”
Added Westerra CU Chairman Andy Rajcevich, “We are very excited about the many benefits this merger of two sound credit unions provides to both Mapleton and Westerra members. It is important to us to provide local resources, as conveniently as possible, to meet the financial needs of those in our community.”
In announcing the merger, Westerra CU said MPSFCU members will gain access to 10 branches across the metro area, as well as 200 Colorado CO-OP Shared Branch locations and 1,000 surcharge-free ATMs.
Commitment to Education
“Our credit unions share a commitment to financial education,” said Jay Champion, President/CEO of Westerra Credit Union. “Members and non-members are invited to attend free financial seminars, use our online financial literacy tools, and have conversations with credit union staff to find answers to their questions. Westerra also provides grants to schools and makes presentations in classrooms to help our educational community with their important mission. We look forward to sharing these resources throughout the entire Mapleton community.”
Westerra’s field of membership includes anyone who lives or works in a seven Colorado counties: Adams, Arapahoe, Boulder, Broomfield, Denver, Douglas or Jefferson counties.
The full integration of Mapleton Public Schools Federal Credit Union operations will take place throughout the fourth quarter of 2019, the credit unions said.
Mapleton Public Schools Federal Credit Union was organized by teachers in 1959 and has approximately 450 members.
Minnesota Merger
Separately, in Falcon Heights, Minn., with a 90% affirmative vote, members of Energy Services FCU have approved a merger into SPIRE Credit Union. As a result of the merger, members of ESFCU will be paid a special dividend upon completion of the merger, the credit union said.
Founded in 1933, the $10-million ESFCU has approximately 1,400 members, and serves Xcel Energy employees, their family members, and contractors of Xcel Energy.
The $1.1-billion SPIRE CU has more than 109,000 members.
“We are excited to service the St. Cloud area and offer expanded products and locations to ESFCU members,” said Dan Stoltz, SPIRE president/CEO, “This partnership will bring countless opportunities to ESFCU members