The 19.3 million Bent River Community Credit Union in Davenport, Iowa, agreed to merge into the $758 million Marine Credit Union in LaCrosse, Wis., the cooperatives announced last week.
The proposed consolidation will expand Marine's market presence in Iowa. In that state, the credit union currently operates two loan production offices and three branches.
If the merger is approved by state and federal regulators and members, Randy Hass, president/CEO of BRCCU, will join Marine's leadership team, and BRCCU's employees will also be offered positions with Marine.
BRCCU's sole branch will remain open after the merger, which is expected to be completed in the first quarter of 2018, according to a prepared statement.
Chartered in 1935, BRCCU serves more than 1,500 members.
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Peter Strozniak
Credit Union Times reporter covering credit union operations, fraud, M&As, leagues, business continuity, and breaking news.
