The $153 million Kentucky Corporate Federal Credit Union officially merged with Volunteer Corporate Credit Union on Tuesday, according to a VolCorp statement.
The merger, announced last year, received a unanimous vote of approval from the Kentucky Corporate FCU membership. The Tennessee Department of Financial Institutions approved the merger June 30.
The Nashville, Tenn.-based VolCorp is the surviving institution, maintaining its name and headquarters location. The Louisville, Ky.-based Kentucky Corporate is maintaining operations and staff at its headquarters.
“We are very excited to welcome Kentucky credit unions into our VolCorp family of credit unions,” VolCorp President/CEO Rick Veach said in a prepared statement. “The addition of Kentucky members will allow VolCorp to continue to be very competitive on pricing, yet remain small enough to provide a high level of service to each of our members.”
With the addition of Kentucky Corporate, VolCorp now manages assets of approximately $1.4 billion with more than 400 members.
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Peter Strozniak
Credit Union Times reporter covering credit union operations, fraud, M&As, leagues, business continuity, and breaking news.
