Members of $50 million First Illinois Credit Union of Danville, Ill., have approved a proposed merger with $599 million-asset Vibrant Credit Union.
First Illinois will become part of Vibrant CU and its corporate office will move into the latter’s Moline, Ill. headquarters. The transition is expected to begin in July and be completed by October. First Illinois’ three branch locations will remain open, becoming Vibrant CU locations in October.
All former First Illinois staff will be given the opportunity to join Vibrant CU.
"Vibrant is happy to share our state-of-the-art technology and one-of-a-kind culture with new additions to our staff and membership,” Matt McCombs, president and CEO of Vibrant CU, said in a statement.
Vibrant CU posted net income of about $6 million in 2016, after recording net income of about $2.2 million in the prior year.
Meanwhile, First Illinois recorded net income figures of approximately $117,000 and $51,000 in 2016 and 2015, respectively.
