Credit Union Mergers, Name Changes
DAYTON, Ohio-DP&L Employees Plus FCU has changed its name to Incenta FCU. The name change comes in conjunction with a community charter for six counties in Ohio. It also serves the city of Maysville, Ky. Founded in 1935, the $62-million CU initially served employees of Dayton Power and Light.
DULUTH, Ga.-The $388-million Georgia FCU is absorbing via merger the $7-million University Employees FCU in Athens, Ga. UEFCU serves the University of Georgia and has 3,000 members. GFCU serves 77,000 members and has 14 locations.
DETROIT-The $5-million Motor City Co-op Credit Union is merging with the $24-million First Financial Credit Union. The two facilities of FFCU, which has 3,700 members, will become branches of Motor City Co-op. Cheryl L. Hurley, CEO of MCCCU, will be CEO of the combined operation, while William H. Taylor, CEO of FFCU, will become EVP.
DENVER-The $140-million Sooper Credit Union and the $71-million Colorado Central CU are merging. Sooper CU will be the surviving charter and name, and SCU CEO Dan Kester will be CEO of the combined operation.
CALDWELL, Idaho-Following a 2005 merger between Mountain View Credit Union and Canyon Medical Health Credit Union, the two CUs have selected a new name: Cornerstone Credit Union. "Both Mountain View and Canyon Medical Health credit unions residing or working in Ada and Canyon counties. Neither credit union was large enough by itself to have an office in both counties," according to Lori Casady, former CEO of Mountain View Credit Union and now VP of Cornerstone CU. There are now seven credit unions with Cornerstone in their name, two others of which are Cornerstone CU.
DENVER-The credit union formed by the merger of Safeway Rocky Mountain Credit Union and DPS Credit Union has announced its new name-Westerra Credit Union. The merger created the third-largest credit union in Colorado with more than 55,000 members with over $710 million in assets.
This month, members of Aurora's Gateway Credit Union will vote on the merger with the combined credit union, bringing Westerra Credit Union's assets to $890 million and membership to more than 76,000 members if it is approved. The new name is a combination of the "west" and "terra" representing the region, and the land. It plans to pursue a co-branding strategy that includes using the new name in conjunction with the primary sponsors and communities it serves, including Westerra Credit Union at DPS, Westerra Credit Union at Safeway, Westerra Credit Union at Stapleton, etc.
MIAMI-Dade County FCU has absorbed via merger the $6-million Miami Beach FCU, which will become a branch. DCFCU will now have $420 million in assets and 82,000 members.
DALLAS-The three branches of Dallas County CU are now branches of Texans CU following a merger. The 7,500 members of DCCU will join the 156,000 members of the $1.7-billion Texans.