TOPEKA, Kans.—The $261-million Quest Credit Union and the $191-million Educational CU have announced plans to merge.
The consolidation plan will be submitted to credit union regulators for approval in March, and members will vote in the spring. According to a statement from Quest Credit Union, the merger is expected to be completed in early 2016, and is aimed at improving the reach of both CUs and growing technology needs of the FIs and members.
The two CUs have not decided on a name for the new organization, according to a release which also did not indicate who would be CEO of the combined organization.
“Convenient branch locations aren’t enough anymore,” said Vickie Hurt, Quest CEO. “Consumers want convenience delivered straight to them, and that takes electronic services and technology.”
“This is an exciting opportunity for both credit unions,” said Educational CEO Greg Winkler. “Our plan is to build upon the size and strength of both organizations, improving operations while continuing to provide the same great service that our members are accustomed to.”
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