WESTMINSTER, Colo. -
"The board clearly saw WesCorp as the best partner to help us maintain and grow the level of quality service and innovative products that SunCorp members need for success in today's competitive marketplace," said SunCorp President and CEO Tom Graham in a released statement.
SunCorp said the merger must be approved by its members and NCUA. SunCorp will host a series of town hall meetings throughout its Rocky Mountain market, beginning with its annual meeting in May.
SunCorp, formally known as Systems United Corporate FCU, said it expects a member vote in June or July. The two corporates said SunCorp will retain its Denver and Salt Lake City offices.
San Dimas, Calif.-based WesCorp, formally Western Corporate FCU, is the largest corporate with $28 billion in assets.
Bob Siravo, WesCorp's CEO, said in a released statement: "A merger with SunCorp clearly enhances the value that all of our members will receive. Combining both organizations not only promises members of SunCorp long-term value, but also the ability to reap the many benefits that will come from the knowledge and expertise of our combined staff."
SunCorp, itself the product of a 2001 merger with Rocky Mountain Corporate CU, reported it provides services to more than 500 credit unions and CUSOs across 20 states.
