Treasure State Corporate Credit Union will be merged into Kansas Corporate Credit Union effective on Jan. 1, the NCUA said Wednesday as it announced its approval of the consolidation.
The agency said both credit unions are financially sound “but sought to merge in order to benefit from improved efficiencies and increased service volumes without significant additional expense.”
The merger had been announced earlier this year as smaller corporates merged with larger brethren, a trend industry participants see continuing.
Treasure State in Helena, Mont., was created in 1977 and now has $230 million in assets, with 57 credit unions using it for a range of correspondent services.
The $315 million Kansas Corporate is based in Wichita and provides 148 credit unions with correspondent services, investment solutions, liquidity solutions and technology services, the NCUA said.
Both are state-chartered institutions.
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