LITTLE ROCK, Ark.–Orion FCU is reporting it has completed its merger with the former Arkansas Employees FCU here.
The merger was initially announced in February of this year, and since then most of the effort has involved integrating AEFCU’s members to Memphis, Tenn.-based Orion’s systems.
“This merger is good for all involved,” said Daniel Weickenand, Orion’s CEO, in a statement. “[Arkansas Employees Federal Credit Union] had many choices for partners, so we are honored to be chosen for this merger.”
Among the offerings now available to the new members: a checking account paying 4%.
The $810-million Orion has more than 77,000 members. At the time of its merger, Arkansas Employees FCU has $33.5 million in assets and was considered undercapitalized by NCUA.