Meridian Trust to absorb tiny Yellowstone credit union
The members of Yellowstone Federal Credit Union in Yellowstone National Park, Wyo., have approved a merger with Meridian Trust Federal Credit Union in Cheyenne, Wyo.
Almost 90% of the membership at $4.4 million-asset Yellowstone approved the vote to merge. The credit union has about 500 members. They will join Meridian Trust, which has about 28,000 members holding more than $420 million in assets.
“We’re excited to merge with Meridian Trust,” Yellowstone CEO Martha Powell said in a statement. “The merger will ensure that we can continue to meet our members’ growing needs, while providing them with excellent service.”
Powell added that her CU’s members will benefit from the deal and that the two credit unions “will be stronger together.”
The deal will expand the products and services available to Yellowstone FCU members, including adding online bill pay and joining the CO-OP Financial Services shared ATM network.
Yellowstone FCU was originally chartered to serve permanent employees of the National Park Service, though in 2014 its field of membership expanded to include anyone who lives, works or attends school in Yellostone National Park. Meridian Trust was founded as a credit union for Wyoming state employees. Today it serves a variety of communities and select employer groups.
Call report data for Yellowstone FCU shows $44,066 in net income through Sept. 30, 2019, up 68.8% compared to the same period the year prior.
“We’re very excited to welcome Yellowstone members and employees into the Meridian Trust family,” Kim Withers, Meridian Trust CEO, said in a statement.