Andigo Credit Union ($868M; Schaumburg, IL) and Consumers Credit Union ($1.41B; Gurnee, IL) announced our intent to merge later this year. Having received approval to pursue the merger from both the Illinois Department of Financial and Professional Regulation and the National Credit Union Administration on December 30, 2019, a special meeting of the Andigo members to vote on the merger occurred Thursday, April 9, 2020. We’re happy to report members voted to approve.
The merger will become official on June 1, 2020; however the two credit unions will run their respective operations as-is until June 2021. This provides time to fully integrate the two organizations. During that time, Andigo will operate as Andigo Credit Union, A Division of Consumers Credit Union.
The combined credit union will employ more than 475 people in the Chicago area and offer members 18 branches — 14 being prominent, public community branch locations in Illinois — as well as access to a national shared branching network, and more than 80,000 surcharge-free ATMs worldwide. We are particularly happy to be able to report that all of our current employees at both credit unions will remain with us at the new credit union, with additional jobs being added as we continue to grow.
The combined credit union will operate under Consumers Credit Union’s name. We will serve more than 163,000 members and have over $2.3 billion in assets, making the new credit union the 5th largest in Illinois and one of the 130 largest credit unions in the US.
Stay tuned for more information, we will update this webpage as more details become available.
Press Release (4/23)
Member Announcement (4/23)
Notice of Special Meeting (2/20)
Press Release (8/19)
Member Announcement (8/19)