A South Dakota bank with deep pockets is helping push the $130 million Sioux Falls Federal Credit Union out of a hospital branch it has occupied for nearly 25 years.
The $900 million First Premier Bank, the city's largest, will occupy the branch space in the Sanford Hospital following a $400 million donation to the hospital two years ago by T. Denny Sanford, the bank's majority shareholder. The transition is set to take place by September.
"We were a bit surprised by the hospital's decision and so now we have to deal with figuring how to handle the 1,700 employee members we have there," said Kevin Kavanaugh, the CU's vice president of marketing.
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