TDECU & Space City CU to Merge, Create New Brand
If approved, the merger will create a nearly $5 billion credit union called Space City Financial.
According to details of the proposed merger, the Lake Jackson, Texas-based TDECU’s president/CEO, Isaac Johnson, will lead the new organization and Space City President/CEO Craig Rohden will retire after leading the Houston-based credit union for 30 years.
If approved by regulators, the newly-merged credit union will have assets approaching $5 billion and nearly 400,000 members.
Johnson said, “We will unite our strengths and offer our members even more robust products, services and technological investments. Together, we will be one organization, fully committed to enhancing the member experience and continuing to grow in ways that benefit the communities we serve. I am thrilled to lead the combined organization as we officially merge with a financially strong credit union that shares our vision and our values.”
Rohden added, “We are excited about this combination with TDECU, and that the Space City brand will expand in the greater Houston area. We share a deep commitment to empowering our members and their families to build brighter financial futures. Given TDECU’s size and reach, this merger allows us to offer even more comprehensive services and innovative financial solutions that not only meet the needs of our current members but also position us to serve their families well into the future.”
Subject to regulatory approval and closing conditions, officials expect the merger will be completed sometime later this year. Members will not notice any changes taking place before the first quarter of 2025, according to Tuesday’s statement.