The members of IntegrUS Credit Union, a $27 million institution based in Dubuque, Iowa, voted to merge with the $600 million Vibrant Credit Union of Moline, Ill.
The merger will be effective in October with plans to complete the transition in 2018. IntegrUS will become part of Vibrant CU and its corporate office will move to Vibrant’s Moline headquarters. However, IntegrUS’s branch operations will continue to operate in Dubuque.
All former IntergrUS staff will be offered jobs at Vibrant, the credit union said.
“We’re excited about the partnership with Vibrant and for the opportunities that this will bring to our members,” Jonathon Miller, IntegrUS’ current president and CEO said in a statement. “With security, service and technology all at the top of mind, we want to make sure that our members are given the best financial experience available. Right now IntegrUS is looking at the future and knows for that to happen, we need to make a change. By partnering with Vibrant our membership will strictly benefit from the broaden services and products, additional security and enhanced experience Vibrant has to offer.”
Matt McCombs, president and CEO of Vibrant CU, said that 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. We strive to create an exciting experience for both members and employees and we’re excited to extend this to the Dubuque community.”
According to its call reports, Vibrant posted net income of about $6 million in calendar 2016, after recording approximately $2.2 million in the prior year.
Meanwhile, IntegrUS recorded net income of about $194,000 in 2016, after posting approximately $19,000 in the prior year.
