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An Illinois and Maine credit union agreed to dismiss a lawsuit over a contract dispute of a called-off merger following months of negotiations and due diligence.

The $1 billion Vibrant Credit Union in Moline, Ill., sued the $1.9 billion Infinity Credit Union in Westbrook, Maine, in March 2021, on a breach of contract claims for failing to pay its prorated share, or $121,247 of the $395,000 in costs of the proposed consolidation.

Peter Strozniak

 

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