Members of System United Corporate Federal Credit Union based inWestminster, Colo., Thursday voted in favor of merging with AlloyaCorporate Federal Credit Union, based in Warrenville, Ill.

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The merger, first announced in July 2014, will become effective Feb.28.

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The combined corporate, which will retain the Alloya name, willprovide investment, financial, lending and correspondent servicesto more than 1,600 natural person credit unions throughout theU.S., according to Alloya SVP Victor Vrigian.

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The new corporate entity will serve 25% of the nation's creditunions, making it the largest U.S. corporate in terms of number ofmember institutions served, Vrigian said.

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“It was a strategic combination that both boards had beenthinking about for a while, and both boards independentlyidentified the other corporate as a potential partner,” Vrigiansaid. “The merger will create more stable corporate goingforward.”

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Todd Adams, Alloya's current president/CEO, will take overleadership of the combined corporate. Brant Peterson and MarkSchieffer, current EVPs with SunCorp, will remain at SunCorp'sColorado office. Tom Graham, SunCorp's current president/CEO, willremain for an unspecified period of time during the transition,then depart the organization, according to the corporates.

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Alloya will retain approximately half of SunCorp's employees,and SunCorp's 206 member credit unions will convert to Alloya'ssecure transaction portal, Premier View, in May.

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Alloya's prior big merger was with the $1.4 billion Central Corporate Credit Union, based in Southfield, Mich. Thatmerger was consummated in April 2013.

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