Two north-central Illinois credit unions have received regulatory approval and the votes of both members and directors to merge operations.
Effective Aug. 31, the $2.7 million Del Monte Eastern Region Employees Federal Credit in Rochelle, Ill., merged with the $80.7 million Rock Valley Credit Union in the Rockford, Ill. suburb of Love's Park. The merger was approved by a majority vote of Del Monte members on June 26.
The combined entity, operating as Rock Valley Credit Union, will have more than $83 million in assets. Members of the former Del Monte will have access to more services, including checking and money market accounts; online, telephone and mobile banking; debit and credit cards and a greater variety of consumer and mortgage loan products.
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