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Infinity FCU and Deere Employees CU (Moline, Illinois) have announced their intent to merge, subject to member and regulatory approval.
Each credit union will retain local control, including keeping their respective names, identities, and branches to continue serving local communities. Systems and services (i.e. online banking, routing numbers, etc.) will remain unchanged, reducing the impact of the change on members who will continue to bank as they are today.
“The goal is to combine resources for mutual benefits driving further growth and expansion in our communities and offering more benefits to our members,” said Infinity FCU President/CEO Elizabeth Hayes and DECU President/CEO Kurt Lewin in a joint statement.
Upon merger approval, the credit union will be headquartered in Moline and led by DECU President/CEO Kurt Lewin. Elizabeth Hayes, Infinity FCU’s President and CEO, will assume the role of Maine Market President and will lead the employees, operations, and community partnerships in Maine. There will be no reduction in the number of employees, rather, the combined credit union will provide more opportunities for employee growth and professional development. It will represent 60,000 members and over $1.5 billion in assets.
About Deere Employees CU
Deere Employees CU, 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 in the Quad Cities, Waterloo, Dubuque and Des Moines, Iowa area plus additional units located throughout the United States.