JEFFERSON CITY, Mo. – State regulators have approved the emergency merger of Spirit of St. Louis CU, a one-time $75 million credit union based in Eureka, into Vantage CU, the $600 million Bridgeton credit union.
Processing Content
The regulatory order approving the merger said no member vote was necessary because of the financial condition of Spirit of St. louis, which reported assets had dwindled to $50 million at mid-year, and it losses of $886,593 for 2008 and $2020,390 for the first six months of 2009.
The Division of CUs also approved the merger of $6 million Missouri Health Family CU, in Jefferson City, into River Region CU, a $53 million credit union also in Jefferson City.
