Five Illinois Credit Unions Announce Proposed Plans to Merge

KCT CU and Rockford Bell CU expect to consolidate with Consumer CU; Peoples Energy plans to merge with Earthmover CU.

By Peter Strozniak | April 15, 2024 at 05:00 PM

The $3.5 billion Consumers Credit Union (CCU) in Lake Forest, Ill., plans to merge with the $417 million KCT Credit Union in Elgin and the $39.1 million Rockford Bell Credit Union in Loves Park. In addition, the $28.9 million Peoples Energy Credit Union in Chicago is expected to consolidate with the $381 million Earthmover Credit Union in Oswego.

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ICBA officials demand Congress stop this "dangerous trend" of credit union-bank buys.

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By Michael Ogden | May 10, 2024

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