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Article: Merger of 11 State Farm CUs Into One Gets OK From NCUA.(credit unions)(all correct)(National Credit Union Administration)
- Article from:
- Credit Union Journal
- Article date:
- June 12, 2006
- Author:
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BLOOMINGTON, Ill. -- State Farm affiliated credit union members are one step closer to a national membership with last week's merger approval by the NCUA.
The process of merging 12 State Farm Insurance credit unions into one $3-billion giant has been given the go ahead by the NCUA, with members now set to approve the union in the third quarter of this year.
The 12 credit unions will be headquartered at the present State Farm Great Lakes CU (SFGLCU) in Bloomington with the current CEO, Tom DeWitt, taking the helm as CEO of the combined organization. DeWitt said the original plan hasn't changed during the merger approval process and the 12 former CUs will ...