Chicago. Credit: Joseph Sohm/Shutterstock.com
Great Lakes Credit Union (GLCU) announced the completion of its data conversion with Chicago Municipal Employees Credit Union (CMECU), finalizing a merger that was legally completed at the end of 2024. The move brings $48 million in assets and more than 11,000 new members into GLCU’s growing financial cooperative.
The merger expands GLCU’s footprint in Chicago and broadens its field of membership to include City of Chicago employees. CMECU, founded in 1926 and recognized as Illinois’ oldest active credit union, adds a century of history and service to the combined organization.
Through the merger, former CMECU members gain access to a larger branch network, advanced digital banking technology and financial education through the GLCU Foundation for Financial Empowerment. Members will also benefit from expanded services, including insurance and mortgage lending through GLCU’s affiliated credit union service organizations, GLCU Insurance Services and Mortgage Forward.
“We’re excited to complete this final merger step and serve more City of Chicago employees through our branch network and digital channels,” Steve Bugg, GLCU's president/CEO, said. “We look forward to preserving CMECU’s robust legacy as it celebrates its centennial anniversary next year.”
GLCU now serves more than 115,000 members across Chicagoland with over $1.4 billion in assets.
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