WESTBROOK, Maine--(BUSINESS WIRE)--Infinity Credit Union is proud to announce that members approved the merger with Deere Employees Credit Union of Moline, Illinois. The unique interstate merger provides a mutually beneficial pool of resources to enhance member experience and explore opportunities in technology and innovation.
Each credit union will retain local control in their region, including keeping their respective names, identities, and branches to continue serving their local communities. To accommodate the merger, Infinity has transitioned to a state-chartered credit union and removed “Federal” from its name. Member deposits will continue to be guaranteed by the NCUA up to $250,000.
“The goal of the merger is to combine resources in order to offer more benefits to our members and to drive further growth and expansion in our respective communities,” said Infinity CU President/CEO Elizabeth Hayes.
The newly-joined organization will be headquartered in Moline and led by DECU President/CEO Kurt Lewin. Elizabeth Hayes, Infinity CU’s President and CEO, will assume the role of Maine Market President and will lead the employees, operations, and community partnerships in Maine. The combined credit union will provide more opportunities for employee growth, training, and professional development. There will be no reduction in employees; conversely, Infinity plans to add wealth management services and other opportunities to their suite of products. The merged credit union represents more than 60,000 members and holds $1.5 billion in assets.
About Infinity Credit Union
Guided by our vision to do banking differently to keep you a step ahead in life, Infinity Credit Union has been serving Cumberland and York counties and the city of Bangor since 1921. We are a not-for-profit cooperative committed to the enrichment of Maine communities through financial inclusion, community service, and our dedication to Banking With Heart™. To learn more about us, visit www.infinityfcu.com and follow us on social media @infinitycreditunion.
About Deere Employees Credit Union
Deere Employees Credit Union, headquartered in Moline, Illinois, serves Deere & Company’s 60,000 world-wide employees and retirees and their families; contract employees for John Deere and employees of wholly owned subsidiaries or joint venture of John Deere; employees of John Deere Dealers and their families. Offering financial products and services to more than 42,000 members, DECU operates 25 branches located inside John Deere facilities across the country.