WICHITA, Kan.—Two Kansas credit unions have announced that they are discussing a merger.
Executives at Mid American Credit Union and New Century Credit Union confirmed they are considering a deal in a statement released Monday.
Mid American Credit Union of Wichita, has $232 million in assets and over 30,000 members. The CU has four branches in Wichita, and one branch each in Arkansas City, Lawrence and Larned, Kan.
New Century, with $21 million in assets, has branches in Topeka and Kansas City, and serves nearly 3,400 members.
Any merger agreement would need the approval by the members of both institutions.
"The services and products are similar for both credit unions," said Mid American President/CEO Jim Holt.
New Century Credit Union President/CEO Stephanie Stuart said, "More importantly, our member first focus philosophies are nearly identical."
Mid American Credit Union recently announced it is also in merger talks with Veterans Administration Credit Union of Wichita, which has more than 1,250 members and about $5 million in assets.
