Archive for Tuesday, August 26, 2008

Credit unions plan to merge

August 26, 2008

The boards of directors of Free State Credit Union and Credit Union of Johnson County have signed a letter of intent to merge, pending approval by both organizations' membership. Free State, which serves nearly 4,500 members throughout Lawrence and Johnson County, has two branches in Lawrence and one in Lenexa, which it shares with the Credit Union of Johnson County.

Free State's two Lawrence branches will remain open after the merger. When the merger is completed, all Free State and CUJC members will be able to access any of their six branches, two satellite locations and a worldwide network of fee-free ATMs.

The proposed merger has received regulatory approval and will now go to the memberships of each credit union for a vote. If approved, it is expected to become effective Sept. 15, 2008.

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