TOPEKA – Credit Union 1 of Kansas and Credit Unions United announced yesterday they are combining to create the state’s third largest credit union, with almost $250 million in assets.
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The two state charters will be holding member votes, which culminate at special membership meetings. Completion of the merger is slated for next April.
The two credit unions are both healthy. Credit Unions United earned net income of $672,000 in 2008 and $310,000 for the first six months of 2009, even with a $742,000 charge for the corporate bailout. Credit Union One of Kansas had net income of $450,000 in 2008 and $163,000 for the first half of 2009.
