Utah's Mountain America Federal Credit Union has now completed a merger of the $1.8 million IFA Employees FCU of Salt Lake City.
The consolidation, which had been under discussion since last year, "brought to a close the challenges faced by this healthy credit union in trying to keep up with compliance and regulation," explained Sterling Nielsen, president/CEO of Mountain America, based in West Jordan.
The board and its management felt their dual role of trying to run a credit union and serve their existing jobs as retail managers for the Intermountain Farmers, a Utah fertilizer store chain, was impractical in the current environment, said Nielsen. The merger was made effective April 1. IFA's single office was closed.