Kansas and Missouri Corporates Merge
The $206 million Missouri Corporate Credit Union in St. Louis officially merged July 1 into the $509 million Kansas Corporate Credit Union in Wichita.
The combined corporate credit unions will provide financial services including liquidity, investment, asset/liability management and correspondent solutions, to member credit unions throughout the Midwest, Great Plains and Montana.
“We’re excited for the opportunity to serve MCCU members and we look forward to continuing the trusted relationships Missouri Corporate staff have cultivated through the years,” Kent Gleason, KCCU Interim CEO, said in a prepared statement.
“Maintaining a presence in the St. Louis area is critical to our future success as it allows us to respond timely to local needs.”
Although merged under the Kansas corporate brand, a new name for the organization will be announced in the near future, the cooperative said.
The merger was approved by state and federal regulators with the final certification expected shortly after the July 1 merger date.
Missouri Corporate Credit Union, chartered in 1976, served more than 122 credit unions and CUSOs in Missouri, Oklahoma, and Illinois.
Chartered in 1951, Kansas Corporate Credit Union before the merger served more than 175 credit unions and CUSOs in Kansas, Montana, Nebraska, and Colorado.