Premier Members and Farmers Union FCU Announce Merger Intentions

Jan 20, 2010, 09:00 ET from Premier Members Federal Credit Union

BOULDER, Colo., Jan. 20 /PRNewswire-USNewswire/ -- Premier Members Federal Credit Union and Farmers Union Federal Credit Union announce their intentions to merge operations. For Premier Members, this will be the second merger in less than a year, having finalized its most recent merger with Colorado United on January 1, 2010.


Premier Members and Farmers Union expect the merger to be approved and completed quickly. Once approved by the NCUA, Farmers Union's members will have the opportunity to vote on the proposed merger on March 18, 2010.

"We began merger discussions late last year," says Premier Members' CEO Rhett Bartley Rowe. "Executives and directors from both credit unions view this merger as very positive and anticipate having it completed by April 1, 2010, once we receive formal NCUA regulatory approval and positive membership vote results. Farmers Union's main sponsor, National Farmers Union, provides Premier Members a national reach."

Farmers Union Federal Credit Union started in 1949, providing financial support to the National Farmers Union and several other insurance-related agencies. Currently, Farmers Union's single branch serves more than 700 members and has more than $4.2 million in assets.

Premier Members began in 1966 in Boulder as the credit union supporting the IBM facilities. Through the more than 40-year history, the credit union has steadily grown to eleven branches, more than $400 million in assets and more than 41,000 members.

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SOURCE Premier Members Federal Credit Union