Two small credit unions are merging with billion dollar cooperatives in Washington and Mississippi.
In Washington, board members of the $4.9 million Darigold Federal Credit Union of Shoreline and the $1 billion Sound Credit Union of Tacoma have unanimously approved a merger agreement between the two organizations.
In Mississippi, the $4.8 million Mississippi Department of Transportation Federal Credit Union in Jackson merged with the $2.1 billion Kessler Federal Credit Union in Biloxi on march 31.
The proposed merger between Darigold FCU and Sound CU must be approved by state and federal regulators as well as the 1,137 members of Darigold FCU.
Founded in 1952, the credit union serves employees of Darigold, one of America's largest dairy farm cooperatives representing more than 500 family farms across the Northwest. Darigold FCU also serves the financial needs of producers and members of the Northwest Dairy Association and those who live or work in Shoreline.
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Peter Strozniak
Credit Union Times reporter covering credit union operations, fraud, M&As, leagues, business continuity, and breaking news.
