FORT WAYNE, Ind. (8/14/12)--Fort Financial CU, Fort Wayne, Ind., and Financial Members FCU, Auburn, Ind., said Friday they have received regulatory and membership approval to merge.
Fort Financial CU, formerly Dana FCU, has about $180 million in assets, and serves more than 40,000 members with 11 branches. Financial Members FCU has about $4 million in assets.
Fort Financial CU will be the continuing credit union (Journal Gazette Aug. 10).
Financial Members FCU will close its location in Auburn. All employees from that branch will be relocated to the Fort Financial Auburn branch.
A difficult economy, increased regulatory burdens and the need to expand services were among the reasons for the merger, according to Steve Collins, Fort Financial CU CEO.