Infinity members approve merger between Infinity Credit Union and Deere Employees Credit Union
WESTBROOK, Maine - Infinity Credit Union is proud to announce that members approved the merger with Deere Employees Credit Union of Moline, Illinois. The unique interstate merger provides a mutually beneficial pool of resources to enhance member experience and explore opportunities in technology and innovation.
Each credit union will retain local control in their region, including keeping their respective names, identities, and branches to continue serving their local communities. To accommodate the merger, Infinity has transitioned to a state-charted credit union and removed ‘Federal’ from their name. Member deposits will continue to be guaranteed by the NCUA up to $250,000.
“The goal of the merger is to combine resources in order to offer more benefits to our members and to drive further growth and expansion in our respective communities” said Infinity CU President/CEO Elizabeth Hayes.
The newly-joined organization will be headquartered in Moline and led by DECU President/CEO Kurt Lewin. Elizabeth Hayes, Infinity CU’s President and CEO, will assume the role of Maine Market President and will lead the employees, operations, and community partnerships in Maine. The combined credit union will provide more opportunities for employee growth, training, and professional development. There will be no reduction in employees; conversely, Infinity plans to add wealth management services and other opportunities to their suite of products. The merged credit union represents more than 60,000 members and holds $1.5 billion in assets.