Mid-States, Empire Corp. Get The Go-Ahead On Merger
Mid-States Corporate FCU and Empire Corporate FCU have been given formal approval by NCUA to merge. The issue will now go to Albany, N.Y.-based Empire Corporate's membership for a vote in May and, if approved, would be completed by June 30.
The merger will create a corporate, operating under the name Members United Corporate FCU, of more than $11 billion with offices in the two home markets, in addition to Indianapolis, Eagan, Minn., Jamesburg, N.J., Sioux Falls, S.D. and Warwick, R.I.
David Preter, president of Mid-States, will be president of Members United, while Joseph Herbst, president/CEO of Empire Corporate, will become CEO of the merged operation.