NEW PROVIDENCE, N.J.–Mergers have been approved by members in New Jersey and Illinois.
Members of Bard Employees’ FCU here have voted in favor of merging into Baxter Credit Union, headquartered in Vernon Hills, Ill.
The merger vote followed the acquisition of C.R. Bard, a medical device manufacturer, in a $24-billion deal by Becton Dickinson and Co. Baxter Credit Union, which is SEG based, currently serves Becton Dickinson.
With the member approval, the deal calls for the merger to be completed by May 31.
The $10.7-million Bard Employees’ FCU has approximately 1,100 members.
Illinois Merger
Separately, in Champaign, Ill., members of Urbana Postal Credit Union have voted in favor of merging into University of Illinois Community Credit Union. The merger is expected to be completed on May 1.
Urbana Postal CU was a small operation with just $886,000 in assets and 289 members, according to NCUA. University of Illinois CU has $346-million in assets and approximately 47,200 members.