BOSTON—One of the country’s oldest credit unions, Industrial Credit Union, said it will be absorbed via merger by Webster First FCU.
The $170-million ICU was founded in 1910 in an area that is home to many of the country’s early credit unions. The $630-million Webster First FCU said the deal is expected to be concluded by the end of May.
Also disappearing via merger is the $7.1-million School District #9 CU, Granite City, Ill., which is being absorbed by the $585-million 1st MidAmerica CU.