Credit Union of America (CUA) CEO, Frank Shoffner, has announced that CUA has signed an Intent-to-Merge agreement with Central Kansas Credit Union (CKCU). 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. Pending a positive vote from both credit unions, the merger will be scheduled for completion on June 30.
CUA CEO Frank Shoffner shared, “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.” CUA plans to retain CKCU staff and both CKCU locations in Hutchinson and Pratt.
When asked about the merger, CKCU President David Dick said, “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.”