Bob Thurman, Credit Union of America President, announced this week, "The Boards of Directors from both Credit Union of America and First Choice Credit Union have signed letters of intent to merge the two credit unions into one financial cooperative under the Credit Union of America name. Both credit unions are financially strong and committed to excellence in service to their memberships."
Linda Nicholson, First Choice Credit Union President stated, "This is a great opportunity for our two cooperatives to come together, create efficiencies, and broaden product offerings that will serve our members well for years to come." Nicholson also announced that she is planning to retire once the merger is completed.
The merger is expected to take four to six months, including regulatory approval, membership votes, and conversion of data systems. In addition to Credit Union of America’s soon-to-be new corporate office, post-merger CUA will offer 13 fullservice branches in Wichita, Derby, Goddard, and Great Bend, two student-run high school offices (Maize High School and USD 259 Southeast High School), will employ approximately 175, serve over 47,000 members, and have over $450 million in assets.
Credit Union of America’s field of membership serves those employed in education across the state of Kansas, and membership is also available to any individual living or working in eighteen Kansas counties. CUA serves over 39,200 members at locations in Wichita, Derby, and Great Bend. Established in 1935, CUA is a full consumer-service financial cooperative providing low-cost checking, savings, investments, personal and mortgage loan serves; and small business services. As of June 30, CUA assets total $385 million and loans total $283 million. CUA is member owned and operated. CUA employs 150. CUA’s 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. Credit Union of
America currently has eleven (11) locations in Wichita, Derby, and Great Bend.