Search
 

CUs Merge

The merger of two St. Paul, Minn., credit unions, Fort Snelling Federal Credit Union and Hiway Federal Credit Union became official at the beginning of April.

By Lindsey Siegriest | Updated on April 21, 2009

The merger of two St. Paul, Minn., credit unions, Fort Snelling Federal Credit Union and Hiway Federal Credit Union became official at the beginning of April. The two credit unions retained the Hiway name.“We looked to align ourselves with another credit union to create a stronger, sustainable financial organization,” said Diane Menton, Fort Snelling president/CEO.According to NCUA data, the $34 million Fort Snelling saw a jump in overall loan delinquencies in 2008. In December 2007 Fort Snelling had $1.6 million in total delinquent loans, and it had $2.9 million in total delinquent loans in December 2008. Delinquent unsecured credit card loans jumped from 6.49% in December 2007 to 10.86% in December 2008.Fort Snelling served government employees and their families, military and nonmilitary personnel, and federal employees working at the Fort Snelling base, the VA Medical Center and the Bishop Henry Whipple Federal Building. Hiway serves federal, state and local government agencies.–[email protected]

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2024 ALM Global, LLC. All Rights Reserved.