Financial Growth
Meritrust Credit Union members have voted in favor of a proposed merger with the Colorado-based Premier Members Credit Union, paving the way for the creation of a combined institution serving more than 200,000 members across two states.
The merger takes effect Aug. 1, and will unite the credit unions under the Meritrust Credit Union name, with 33 branch locations, 650 employees and nearly $4 billion in assets.
Meritrust CEO James Nastars thanked members for their support: “I am grateful our members see this merger as an opportunity to bring together the best of both credit unions which will ultimately provide greater value and opportunities for them, ensuring their financial well-being remains our top priority.”
Carlos Pacheco, CEO of Premier Members Credit Union, added, “United, we are better equipped to serve our members’ rapidly evolving needs with greater innovation and efficiency.”
As part of the merger, both boards approved Meritrust's adoption of a Colorado state charter, which changes the official headquarters designation to Broomfield, Colo. However, Nastars emphasized that Meritrust is not leaving its Kansas roots.
“The change in headquarters might cause some concern for our Meritrust members who may think we are leaving Wichita. This is not true,” he said. “Our operational presence and commitment in Kansas remain unchanged.”
During the transition, Premier Members Credit Union will operate as a division of Meritrust, with members continuing to access services as usual.
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