School's Out: SD9 CU Merged Into 1st MidAmerica CU

BETHALTO, Ill. — The final bell has rung for School District #9 Credit Union in Granite City, Ill., as it was officially merged into $585 million 1st MidAmerica Credit Union, here.

What had been an SD9 CU branch in Granite City will remain open and operate as a 1st MidAmerica branch. All employees of SD9 CU were retained and will continue to serve members at that location.

1st MidAmerica CU has merged with other small credit unions in recent years, and has expanded its branch footprint to 12 locations — 11 in Illinois and one in Independence, Mo. A new branch currently is in the design phase and will be located in Litchfield, Ill.

It is ranked as the fifth-largest credit union in the St. Louis metropolitan area, serving more than 57,000 members.

The two credit unions said the merger means members of SD9 CU will have additional services available to them.

The board of directors of SD9 CU entered into a merger agreement with 1^st MidAmerica Credit Union in September 2014. The membership of SD9 CU approved the merger by vote on Nov. 18, 2014. Approval was granted by the credit unions' state and federal regulatory agencies, the Illinois Department of Financial and Professional Regulation and NCUA.

Alan Meyer, CEO and president of 1^st MidAmerica, said in a statement, "This merger brings added convenience to members of both credit unions, as well as expanded services and greater value to the merged members of School District #9 Credit Union."

1^st MidAmerica Credit Union was chartered in 1934.