Credit Unions with National FOMs Will Merge
Two national credit unions in Wisconsin and Minnesota are set to consolidate Oct. 1, forming a merged cooperative with assets of $976 million and more than 133,000 members.
The $348 million Endura Financial Federal Credit Union in Minneapolis said Tuesday its members voted to merge into the $628 million Connexus Credit Union in Wausau, Wis.
The merged entity will retain the Connexus name, according to an Endura spokeswoman.
“Bringing together two strong and innovative credit unions provides a tremendous opportunity to collectively leverage the best of both organizations – it’s a win-win for everyone,” J. David Christenson, president/CEO of Connexus CU, said in a prepared statement.
Connexus serves more than 108,000 members across all 50 states and abroad. Likewise, Endura Financial FCU serves nearly 25,000 in all 50 states and overseas.
Although both national cooperatives said their members primarily use online and mobile banking, website services and a dedicated member call center for account service and transactions, Connexus operates five branches in Wisconsin and Endura Financial has three branches in Minnesota.
“This is an exciting time for Endura members and staff as we celebrate our shared members-first philosophy and enhance the member experience by providing access to a broader array of high quality products and services,” Douglas P. Young, president/CEO of Endura Financial FCU, said in a prepared statement.