(KNSI) – In a letter Tuesday to bank members, CEO Brant Hicks announced that Great River FCU is merging with GEM Federal Credit Union of Minot, North Dakota. The new partnership will boast 18,000 members and $300 million in assets while operating eight branch locations in two states.
“Our name will stay the same and continue to be led by the same leadership that is currently in place. GEM FCU will keep its name for 2 years, but immediately have a notation behind their name to read, “GEM Federal Credit Union, a Division of Great River Federal Credit Union”. GEM will operate under the same Charter as GRFCU and eventually have the same products and services.” Hicks said.
Great River FCU has already received approval from the National Credit Union Administration to proceed. Gem FCU conducted a member vote December 15th, and the official merger will happen January 31st, 2022.
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