Citing common cultures and management philosophy, the $161 million Ascentra Credit Union of Bettendorf, Iowa, said this week it is now in the process of completing a merger of the $53 Members Choice Community CU of Clinton, Iowa to be finalized next March.
"We are both well capitalized credit unions and this is a merger of convenience to members in both organizations," said Paul Lensmeyer, president/CEO of Ascentra, the surviving CU which will have a combined membership of 29,500 members.
Ascentra was formerly known as Alcoa Employees and Community CU.
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