Bell Federal Credit Union and Midwest Partners Federal Credit Union, both in Sioux Falls, S.D., have agreed to merge, creating a $65 million-asset credit union serving 9,000 members.
Bell Federal will move into Midwest Partners' main branch. Midwest Partners has two other branches. A new board will be created with an equal number of directors from both credit unions.
"Both credit unions are financially sound," Jeff Schmidt, the president of Midwest Partners, said in a Friday press release. "The merger will further strengthen our competitive position, allowing us to better serve the financial needs of our members."
