Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WARRENVILLE, Ill. — It was the largest merger in the history of credit unions. It married the $4 billion Empire Corporate with the $5 billion Mid-States Corporate, but would a merger of that size work? “Economies of scale” has become a worn out term, but this deal was supposed to show that a larger organization could do more for its members than two smaller ones. The merger took many corporate leaders by surprise because on their own Empire and Mid-States were already two of the largest corporates in the country. However, the leaders consistently said by joining forces they would create a true top-tier corporate that would be around for the long haul and be an asset to the industry.

Empire and Mid-States became Members United on July 1 of last year. Members United CEO Joe Herbst, formerly CEO of Empire (Albany, N.Y.), and Members United President Dave Preter, formerly CEO of Mid-States (Warrenville, Ill.), say this merger is living proof that big mergers can work to the benefit of members. “On the wholesale corporate level we have found and we have proven that size matters. The efficiencies you gain are big,” said Preter.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.