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Infinity Federal Credit Union and Vibrant Credit Union of Moline, Illinois have announced their intent to merge, subject to member and regulatory approval.
“Together, we will prove the power of what’s possible when a credit union truly lives out the cooperative principles on which our industry was founded,” said Infinity FCU President/CEO Elizabeth Hayes and Vibrant President/CEO Matt McCombs in a joint statement.
The combined credit union will build on the strengths of each and will represent nearly 70,000 members and over $1 billion in assets, led by McCombs as President/CEO and Hayes as Executive Vice President. The entity will be headquartered in Moline, Illinois with 17 branch locations in states including Illinois, Iowa, Indiana, and Maine, and contact centers in Reno, Nevada and Westbrook. Maine will serve as the East Coast Hub.
Infinity FCU was founded in 1921 to serve Telephone Workers and Vibrant CU was founded in 1935 to serve the workers of John Deere. Both Infinity FCU and Vibrant CU are steeped in history and have a shared commitment to improving the lives and well-being of their members. The members, communities, and employees of both credit unions will benefit from consolidating forces. 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.