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Article: Good Neighbor CUs Get Neighborly: 12 State Farm Credit Unions To Merge Into $3B CU.
- Article from:
- Banking Wire
- Article date:
- March 16, 2006
- Author:
CopyrightCOPYRIGHT 2006 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BLOOMINGTON, Ill. -- After years of planning and discussion, 12 State Farm Insurance affiliated credit unions have applied to merge into what would create a CU giant with nearly $3 billion in assets.
If approved by the NCUA, the credit union would be headquartered here at what is now State Farm Great Lakes CU.
SFGLFCU CEO CEO Tom DeWitt said the new CU will be called State Farm Federal Credit Union and reflects a logical step in streamlining logistics, products and services, plus providing service to members in all of the company's regions. DeWitt, who will become CEO of the combined operation, said the $654-million State Farm Great Lakes is the logical ...