WHITE SULPHER SPRINGS, Mont.–Vocal Credit Union has acquired the branch of Dutton State Bank here and re-opened it as a credit union office.
The acquisition includes $800,000 in existing accounts. Terms of the deal were not released.
According to Vocal CU, despite a shortage of banks in Meagher County, Dutton State Bank’s White Sulphur Springs branch was losing revenue. The $27-million Vocal Credit Union, which is based 75 miles away in Helena, Mont., said it “decided to step in.” The office will represent the only credit union for 112 miles, with the credit union saying one hope is the CU branch will bring “much-needed community engagement to White Sulphur Springs.”
“It was important to us that our credit union serves the needs of the White Sulphur Springs community better,” said CEO Eddie Black. “We have worked closely with Dutton State Bank to make this transition a smooth one for local residents and are grateful to have received such positive feedback along the way. Our staff is looking forward to introducing new members to the credit union difference and helping their dreams thrive with our tailored financial services and the implementation of the credit union difference.”
Vocal Credit Union said the acquisition will provide the community with superior financial services, lower loan rates, upgraded technology and even an ATM, which will be surcharge free for everyone in the first six months of opening. VCU said there is only one other ATM in White Sulphur Springs, at a gas station owned by a local bank, so “another will be a welcome addition.” Vocal said it will install an ATM in its drive-thru lane in early 2018.
Vocal CU said it plans to hold a grand opening event on Oct. 19, International Credit Union Day.