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The $65.5 million Western Heritage Federal Credit Union in Alliance, Neb., plans to merge with the $575 million Meridian Trust Federal Credit Union in Cheyenne, Wyo., the credit unions announced Monday.
"This will ensure that we can continue to meet our members' growing financial needs, while providing them with top level service," Western Heritage President/CEO Cindy Baker said in a prepared statement. She noted Western Heritage members can benefit from Meridian Trust's wide array of products and services, and its recently launched online banking product and new mobile app.
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If approved by Western Heritage members and the NCUA, the consolidation is expected to be completed by early next year.
Once combined, the credit union will operate under the Meridian Trust brand with more than $640 million in assets and a workforce of over 120 employees who will serve a membership exceeding 40,000.
Since both credit unions currently operate a branch less than a half-mile from each other in Scottsbluff, Neb., plans call for the Meridian Trust branch operations to be consolidated into the Western Heritage branch. Western Heritage's Alliance branch will continue operating, the credit unions said in a joint statement.
In addition to its Scottsbluff branch, Meridian Trust also operates a branch in Colorado, a mobile branch and seven locations in Wyoming, including one at Yellowstone National Park.
"We look at this as an opportunity that will benefit the great members of both credit unions," Meridian Trust President/CEO Kim Withers said in a prepared statement. "Each organization has a strong passion for serving their existing and potential membership, providing local as well as world-class digital services."
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Peter Strozniak
Credit Union Times reporter covering credit union operations, fraud, M&As, leagues, business continuity, and breaking news.
