SOUTH SIOUX CITY, Neb. — Two credit unions are proposing a merger that would cross state lines.
The $195-million Siouxland Federal Credit Union, with locations in Sioux City and South Sioux City in Nebraska and Dakota Dunes in South Dakota, and the $57-million N.W. Iowa Credit Union in Le Mars, Iowa, said they plan to merge pending member approval.
The merged CU would serve approximately 24,000 members.
If the merger is approved by the members of N.W. Iowa Credit Union, the effective merger date would be July 1.
“The proposed merger combines two established entities that share similar values and commitment to personalized service and financial empowerment to our members,” the credit unions said in a statement. “By combining these two organizations, the continuing credit union will be in a strong competitive position to offer members even greater value and will benefit members, the communities, and its employees for the long term.”