BANNOCKBURN, Ill. — Great Lakes Credit Union on Wednesday said its Sept. 1 merger with McHenry County Federal Credit Union will result in the larger GLCU picking up two new branches in McHenry County.
Great Lakes CU, based here, has $693 million in assets, according to its latest call report. GLCU said the merger will take it to $720 million in assets, nearly 70,000 members and 13 branches.
Crystal Lake, Ill.-based McHenry County FCU had $42 million in assets and 5,961 members, according to its latest call report. It was chartered in 1961.
The former headquarters branch of McHenry County FCU in Crystal Lake reopened as a GLCU branch Tuesday. The MCFCU branch in Woodstock closed on Aug. 20. A new GLCU branch will be opening in Woodstock later this month on Route 47, next to a McDonald's and across from a Jewel-Osco store, GLCU said.
"We are excited to be increasing our exposure into McHenry County as all of our members benefit from an expanded service area and additional fee-free ATMs," Vikki Kaiser, president and CEO of Great Lakes Credit Union, said in a prepared statement. "We also look forward to providing our newest members with our value added financial products and services, as well as access to our growing collection of financial tools and consumer education."
Kaiser said the new Woodstock branch will be in a "more accessible" location, adding, "It will feature a secure walkup ATM and a night drop box. We anticipate it will open for business toward the end of September."
GLCU currently has 12 branches located in Antioch, Bolingbrook, Country Club Hills, Crystal Lake, Gurnee, Naperville, North Chicago, Oak Lawn, Round Lake Beach, Waukegan, Willow Springs, and Zion, Ill. When the new Woodstock branch opens GLCU will have 13 branches.
