Infinity Federal Credit Union of Maine and Vibrant Credit Union of Illinois Announce their Intent to Merge
WESTBROOK, Maine, August 1, 2019 - Infinity Federal Credit Union (Westbrook, Maine) and Vibrant Credit Union (Moline, Illinois) announce their intent to merge, subject to member and regulatory approval.
The goal of combining the two credit unions is to build an innovative organization guided by the vision of “becoming the world's most loved, most used and highest performing financial services organization” grounded in the mission of “doing banking differently to keep you a step ahead in life.”
“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 five states, including Illinois, Iowa, Indiana, and Maine with contact centers in Reno, Nevada and Westbrook, Maine. Maine will serve as the East Coast Hub.
Infinity FCU was founded in 1921 to serve Telephone Workers and Vibrant Credit Union was founded in 1935 to serve the workers of John Deere. Both Infinity FCU and Vibrant are steeped in history and have a shared commitment to improving the lives and wellbeing of their members. The members, communities and employees of both credit unions will benefit from consolidating forces, driving further growth and expansion in the communities and more benefits to members. 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.