FORT WAYNE, Ind.– Three credit unions announced they have completed merging in other credit unions.
In Indiana, ProFed Federal Credit Union (ProFed) said its merger with East Allen Federal Credit Union (EAFCU) has been completed.
New Haven-based East Allen Credit Union members are now ProFed members and can bank online through ProFed’s digital banking app or at any of ProFed’s 13 full-service locations. Members also have access to expanded hours through its video teller machines.
ProFed FCU reported it acquired one branch and gained more 1,600 members with the completed merger.
ProFed now has more than 190 employees and approximately $665 million in total assets.
‘A Natural Fit’
“We are excited to welcome the members of East Allen Federal Credit Union to ProFed. Both financial institutions began as teacher-based credit unions so joining together is a natural fit,” said ProFed FCU President/CEO Nina Baker. “Education continues to be a priority at ProFed through services such as interactive financial tools on our website, and financial wellness programs designed specifically for our business partners. We look forward to servicing our members and supporting the New Haven community.”
Merger in Colorado
Separately, in Littleton, Colo., Colorado CU said it has nearly completed its merger with Denver-based White Crown FCU.
System integration is expected to be completed in late January of 2023.
“Colorado Credit Union has built a foundation of success on its strong financial standing, a diverse product portfolio and its commitment to both its members and the communities it serves,” said Kerry Spradling, White Crown president and CEO. “When evaluating merger opportunities, thoughtful consideration was given to selecting a credit union that will continue building upon White Crown’s more than 70-year legacy of service. I am confident that Colorado Credit Union is the right fit for our members, and I’m thrilled our members agree.”
The merged credit unions will operate under the Colorado Credit Union brand and all White Crown FCU staff will be retained, the credit unions said.
Colorado CU now has assets of $378 million, 70 employees, four branches and more than 26,000 members.
‘Enhanced’ Financial Offerings
“It is an honor to welcome White Crown members and staff into the Colorado Credit Union family. I am thankful to Kerry, the White Crown board, and its members for the confidence in Colorado Credit Union’s ability to meet their growing financial needs,” said Mike Williams, Colorado Credit Union president and CEO. “In the current financial landscape, mergers offer a unique opportunity to enhance the financial offerings of a credit union allowing us to better serve our members.”
Merger Complete in Illinois
In Normal, Ill., members of the former Prairieland FCU are now members of the Champaign, Ill.-based University of Illinois Community Credit Union (UICCU), following a merger.
PFCU began serving its members in 1937. At the time of the merger, PFCU had more than 7,000 members and more than $95 million in assets, the credit union reported. UICCU has more than $490 million in assets and serves more than 46,000 members.
UICCU said it is maintaining the former PFCU branches located at 1722 E Hamilton Road in Bloomington and 416 Kays Drive in Normal. UICCU said it has also incorporated PFCU staff as UICCU employees.
The merger will provide the members of PFCU with continued value, access to more products and services, enhanced technology, and competitive rates, all while maintaining local service and ownership, the credit union said.
“We are thrilled to welcome the members of Prairieland Federal Credit Union. This opportunity allows us to do more good in the Bloomington-Normal community and it gives our current membership increased access with a total of 6 branches in Central Illinois,” said Chris Harlan, UICCU president and CEO.
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