BLOOMINGTON, Ill. — When a dozen credit unions merge into one multi-billion dollar financial institution, implementing a data conversion in one fell swoop is logistically not possible.
That has probably been one of the monumental challenges for $2.84 billion State Farm Federal Credit Union, which made history in October 2006 when the 12 credit unions that serve State Farm Insurance merged creating an entity that now serves 136,000 members in 20 states through a coast-to-coast 26 branch network and employs 150 employees.
It's been nearly nine months since the merger and Tom DeWitt, president/CEO of State Farm FCU acknowledged that while it's been hard work, managers and staff have been on top of due diligence to move the alignment process along.
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