WESTMINSTER, Colo./WARRENVILLE, Ill.—The members of System United Corporate Federal Credit Union (SunCorp) have voted to approve the proposed merger with Alloya Corporate Federal Credit Union (Alloya).
The effective date of the merger is February 28, 2015.
Last month, the deal received final regulatory approval.
The combined Corporate will provide investment, financial, lending, and correspondent services to more than 1,600 member credit unions throughout the United States. Alloya will retain approximately half of SunCorp’s employees. SunCorp members are expected to convert to Alloya’s secure transaction portal, Premier View, in May, 2015.
“This merger adds 206 members to Alloya’s current membership, plus additional scale,” noted Tom Graham, president and CEO of SunCorp. “SunCorp members gain continued access to an owned financial cooperative for wholesale services with increased scale, additional services and greater financial strength. Members will continue to receive great service from staff they know.”
“This partnership with SunCorp adds several strategic benefits for members. Beyond additional scale, revenue growth and enhanced value, this merger opens a doorway to western markets for Alloya,” said Todd Adams, Alloya’s President and CEO. “By maintaining a local presence in Colorado, Alloya adds experienced and dedicated staff as well as member service access in all four U.S. continental time zones.”