Great Lakes Credit Union in Bannockburn, Ill., and Phone-Co Credit Union have merged.
The deal with the $5.8 million Phone-Co is Great Lakes' third merger of the year. Financial details of the transaction were not disclosed.
Starting Dec. 3, Phone-Co members can begin to enroll in Great Lakes' online banking system, WebConnect. Phone-Co's conversion to Great Lakes began Nov. 30, according to a merger guide on its website.
Additionally, Great Lakes announced that through the merger it had opened a new branch in Chicago, marking its 14th branch in the Chicagoland area.
""It is always exciting when we move into a new area and can offer our merging members access to an array of products and services they did not have previously," said Great Lakes chief executive and president Vikki Kaiser in a Dec. 3 news release.
Great Lakes holds nearly $700 million in assets and has more than 70,000 members.
