BOULDER, Colo. – Premier Members FCU, a one-time IBM employees credit union, has agreed to acquire Farmers Union FCU, a $4 million Denver credit union that serves National Farmers Union.
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The deal follows Premier Members’ acquisition of Denver’s Colorado United CU last year, giving it more than $400 million in assets.
Farmers Union FCU was started in 1949 and provides financial support to the National Farmers Union and several other insurance-related agencies. Currently, Farmers Union’s single branch serves more than 700 members and has more than $4.2 million in assets. The credit union had a loss of $250,000 for the first three quarters of 2009.
