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CU System
Two Kansas CUs seek merger
TOPEKA, Kan. (10/20/09)--Two Topeka, Kan.-based credit unions have asked their members to approve a merger. If the merger garners approval from members and state regulators, the $95 million-asset Credit Union 1 of Kansas and the $141 million-asset Credit Union United will combine under a new name (The Kansas City Star Oct. 17). “This is a strong consolidation of two healthy credit unions,” Vickie Hurt, president/CEO of Credit Union 1, said in an announcement. “By joining forces as one organization, members of the new credit union will be able to take advantage of the economies of scale that will promote efficiency, as well as favorable rates and fees.” Employees at both credit unions will keep their jobs, the announcement said. On Nov. 4, members of each credit union will vote on the merger at a special meeting, the newspaper said. Official at the credit unions expect the merger to be finalized in April, the paper added.
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