ST. LOUIS — The board of directors of Community Educational Federal Credit Union recently approved a merger with Vantage Credit Union.

The $13 million CEFCU is based in Wood River, Ill. and serves 2,500 members. On April 25, CEFCU's board voted to merge with $500 million Vantage and Vantage's board approved the action at a special directors meeting on May 11. Confirmation of the merger took place through a special CEFCU membership meeting on July 11.

"This merger is a mutually beneficial endeavor for both credit unions. It's a positive move for Vantage Credit Union in that we'll be able to expand our reach into Illinois while better serving our existing Madison County members with a location conveniently located to them," said Hubert Hoosman, president/CEO of Vantage. "And, current Community Educational members will also benefit from additional services and conveniences such as home equity options, investment services, and free money-management and educational services that Vantage members have available to them."