Two faith-based credit unions in the Twin Cities areaare merging July 1.
|The $19 million St. John's Credit Union of Little Canada said itwill be acquiring the $6 million Minnesota Catholic Credit Union ofSpring Lake Park. Its members approved the merger April 25.
|Regulatory approval has been received from the MinnesotaCommerce Department and final approval from the NCUA is expectedshortly, they said.
|“We are pleased we found a merger partner that so closelymatches our field of membership. I know our members will bewell served.” said Jill Hein, who is retiring as president/CEO ofMinnesota Catholic CU.
|David Sawin, CEO of St. John's, said both CUs “have a richhistory serving our Catholic community with quality products andservices at competitive rates. We're excited to build on that.”
|The combined credit union will serve 4,300 members through afield of membership that increases 21 parishes, the Knights ofColumbus and the cities of Spring Lake Park, Blaine and CoonRapids.
|In the past couple weeks in the Twin Cities, Ukrainian Credit Union also was acquired by TruStoneFinancial CU and Hmong American FCU was liquidated by the NCUA.
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