Marking a new phase in its Chicago area expansion, the $125 million Premier Credit Union of Palatine, Ill. is merging this month the $5 million Maine Township Schools CU of nearby Park Ridge.

The consolidation “of two healthy and well capitalized credit unions” is the first for Premier in nine years and represents a broadening of the product and service portfolio for the Park Ridge CU, whose board approached Premier early last year about a merger, said James Roche, president/CEO of Premier.

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