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The Journal Gazette

Friday, September 01, 2017 12:09 pm

General, Partners 1st Federal credit unions to merge

The Journal Gazette

General and Partners 1st Federal credit unions on Friday announced their intent to merge.

The merger proposal will go before the members of General Credit Union in the coming weeks for a vote, the Fort Wayne-based credit unions said in a statement.

General Credit Union has more than 9,000 members, four branches and $84 million in assets, the statement said. Partners 1st Federal has nearly 27,000 members, with 23 branches in eight states and more than $280 million in assets.

All employees of both credit unions will be retained, the statement said. It said the combined credit union would be Indiana's 20th-largest, according to June 30 financial data.

The new organization would operate under the Partners 1st Federal Credit Union brand and charter if the General Credit Union members approve the merger, which would be effective Oct. 1, the statement said.