WICHITA, Kan. — Consolidation among corporate credit unions continues with the announcement that Missouri Corporate CU has merged with Kansas Corporate CU, effective today.
The combination was approved by NCUA during the regulator's closed board meeting on May 21, and the chairmen for the two corporates said NCUA approval was the last major regulatory hurdle in the process.
While the official merger date is July 1, an operational merger won't take place until Aug. 1. The combined institution is expected to provide liquidity, investment, asset/liability management, and correspondent solutions to member CUs throughout the Midwest and Montana.
"We're excited for the opportunity to serve MCCU members and we look forward to continuing the trusted relationships Missouri Corporate staff have cultivated through the years. Maintaining a presence in the St. Louis area is critical to our future success as it allows us to respond timely to local needs," Kent Gleason, KCCU's interim CEO said in a statement.
Kitty Gray, former president/CEO of Missouri Corporate and current CFO at KCCU said that members will have access to many new services, including customized ALM solutions, financial analyst support and more.
For now the two organizations are operating under the banner of Kansas Corporate Credit Union, though a new brand reflective of the merged institution will be announced at a later date.
The Kansas/Missouri Corporate merger comes after a year that saw increased consolidation in the corporate CU space, including a
