The $6.3 million Northcountry Cooperative Federal Credit Union in Minneapolis, Minn., has agreed to merge into the $82 million South Metro Federal Credit Union in Prior Lake, Minn.
The merger is expected take effect in early 2013.
NCFCU, which has 170 members, was started by members of the Northcountry Cooperative Development Fund, a community development loan fund. NCFCU’s two part-time employees will be offered positions with South Metro FCU, said Don Crofut, president/CEO of South Metro.
“We are confident this merger will have a positive impact on all of our members in the South Metro family,” said Bill Rudnicki, chairperson of the South Metro Board of Directors. “We welcome our new members and look forward to serving them.”
South Metro FCU serves 3,000 members.