SUBMITTED
WICHITA – Central Kansas Credit Union (CKCU) President, David Dick, has announced that Central Kansas Credit Union has signed an Intent-to-Merge agreement with Credit Union of America (CUA). CUA will be the surviving credit union.
The credit unions are performing required due diligence for the merger and memberships of both credit unions will vote on the merger before it can occur. Voting will conclude March 29, 2018. Pending a positive vote from both credit unions, the merger will be scheduled for completion on June 30, 2018.
“We are really excited about merging with CUA. They are a strong and growing credit union that will bring many innovative products and
services to our members. Keeping up with technology is always a challenge and CUA has proven they can handle that challenge. As a part of the merger our staff at both locations will be retained and be able to continue serving our members,” Dick said.
CUA CEO, Frank Shoffner said “CKCU is a well-run financial cooperative. A merger with them is an excellent opportunity for CUA to expand its services to the Hutchinson and Pratt communities. We’ll be able to serve existing CUA members in those markets, CKCU members, and new community members. Expanding our membership base will be a nice supplement to our already sturdy financial foundation.”
Central Kansas Credit Union was established in 1936 serving the Ark Valley Dairy Association and Reno Consumers Coop, and now serves over 6,000 members in 34 Central Kansas counties. CKCU and has offices in Hutchinson and Pratt, Kansas. As of December 31, 2017, CKCU assets totaled $36 million.
CUA serves over 65,000 members online and at thirteen (13) full service locations in Wichita, Derby, Goddard, Great Bend, and Salina, and a corporate office located in Wichita.
Credit Union of America, originally a teachers’ credit union, now serves a community-based field of membership, with special interest and expertise in serving educators and healthcare workers.
Established in 1935, CUA is a member owned and operated full service financial cooperative providing low-cost checking, savings, investments, personal and mortgage loans, and business services. As of December 31, 2017, CUA assets totaled $805 million and loans totaled $684 million. Deposits are insured by the National Credit Union Administration (NCUA), a U.S. Government Agency. CUA is an Equal Housing Lender and Equal Opportunity Employer.