Following a 96% affirmative vote from its membership, Ecolab Credit Union will merge into SPIRE Credit Union on October 1.
Based in St. Paul, Minn., Ecolab CU is a state-chartered credit union with more than 2,200 members and $11 million in assets.
SPIRE CU, in Falcon Heights, Minn., has almost 88,000 members and $845 million in assets.
"To maintain and grow the long-term value for the Ecolab Credit Union membership, the leadership recognized the need to enter into a partnership with SPIRE," Ecolab CU's current President and CEO Sandra Wiederholt said in a statement. "This partnership is a win for everybody!"
Bridget Petersen, market VP of community outreach at SPIRE CU, noted that Wiederholt will retire upon completion of the merger.
Dan Stoltz, SPIRE CU's president and CEO, commented: "The [Ecolab CU] members are very excited to have more products available to them, as well as greatly expanded services and branch options. This partnership will bring countless opportunities to the [Ecolab CU] members."
