Andigo Credit Union ($865M; Schaumburg, IL) and Consumers Credit Union ($1.27B; Gurnee, IL) have 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, the next step in the process is to hold a special meeting of the Andigo members to vote on the merger. This meeting is scheduled for April 9, 2020 at 5:30 pm, and will be held at 1501 E Woodfield Road, Suite 105N, Schaumburg, Illinois. If approved, the completed merger date is targeted to be June 1, 2020.
If approved, the new organization would employ more than 475 employees throughout Illinois and offer members 18 total 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 would operate under Consumers Credit Union’s name. We would serve more than 156,000 members and have over $2.1 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.
Notice of Special Meeting (2/20)
Press Release (8/19)
Member Announcement (8/19)