ETS Credit Union in Eldora, Iowa will merge with MEMBERS1st Community Credit Union
Carl Kruger, Chairman of the Board of ETS Credit Union and Janet Borer, CEO of MEMBERS1st Community Credit Union, recently announced that ETS Credit Union in Eldora, Iowa will merge with MEMBERS1st Community Credit Union on February 1, 2019. The membership of ETSCU approved the merger in December 2018.
Ms. Borer commented on the merger: “Today’s competitive environment makes it especially difficult for smaller credit unions to survive and thrive, so we applaud the Board of ETSCU for making the strategic decision to merge while they are strong and stable. We’re excited to welcome their members into our credit union family where they will enjoy access to more financial services, as well as 7 additional Iowa locations.”
ETS Credit Union is a $2.9 Million credit union that was chartered in 1962 and serves employees of the State Training school in Eldora, Iowa. The current ETS Credit Union branch will remain open following the merger, and the staff at that branch will be welcomed as MEMBERS1st CCU staff.
MEMBERS1st Community Credit Union is an Iowa-based not-for-profit financial cooperative, owned and operated by its members. As a financial cooperative, there are no stockholders — the board is comprised of volunteer members who use the credit union’s financial services and represent the entire membership. MEMBERS1st has seven, and soon eight, Central Iowa locations in Marshalltown, Ames, Boone, Iowa Falls, Traer and Eldora.