EDWARDSVILLE, Ill.–The $1.7-million Madco Credit Union has merged. The 561 members of Madco have agreed to merge into the $695-million 1st MidAmerica Credit Union in Bethalto, Ill.
“We are proud to come together with 1st MidAmerica in order to provide the best products and services to our members,” Joe Dauderman, chair of the Madco Credit Union board, said in a statement.
Dauderman said the Madco Credit Union board looked at several credit unions before considering the merger with 1st MidAmerica. “We felt this was the best fit for our members,” he said.
Madco Credit Union served current and retired employees of Madison County, Ill.
Over the past three years 1st MidAmerica has also absorbed Laclede Steel Credit Union and School District No. 9 in Granite City, Ill. via merger.