ST. PAUL, Minn.–The $4.2-billion Affinity Plus FCU here and $28-million City and County Employees FCU, based in Albert Lea, Minn., intend to merge, Affinity Plus reported.
The agreement will be voted on by memberships of both organizations on Oct. 1.
Affinity Plus said it will retain all five current CCEFCU employees.
“We’re honored to welcome the members and employees of the City and County Employees Federal Credit Union of Albert Lea to Affinity Plus’s growing statewide network,” said Dave Larson, president and CEO of Affinity Plus. “This merger not only expands our reach but deepens our commitment to delivering the personal, member-focused service that sets us apart. We’re excited about the Albert Lea community and look forward to building strong relationships by supporting local efforts, contributing to growth and being there for our members every step of the way.”
CCEFCU’s net worth ratio is 9.97%. Affinity Plus’s capital stands at 8.38%, according to NCUA data.