The $41 million Highgrove Community Federal Credit Union and the $2.7 billion Wings Financial Credit Union have reached an agreement to merge operations.

The merger has received preliminary approval by the NCUA and the Minnesota Department of Commerce, according to Wings Financial in Apple Valley, Minn. The two credit unions expect to combine operations over the coming months. Highgrove’s single location in St. Paul, Minn. will remain open and will be remodeled to match Wings Financial’s other branch locations in the Twin Cities.

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