Lincoln, Nebraska – Ameritas Employees Credit Union and MembersOwn Credit Union have mutually signed a Definitive Merger Agreement to combine their memberships and resources into one credit union.
“The similarities of these credit unions make this partnership a win-win for everyone, most especially the members. The more a credit union grows and the more efficiently it operates, the more earnings it will yield and the more members will benefit,” says Kenn Miller, President of MembersOwn Credit Union.
Ameritas Employees Credit Union and MembersOwn Credit Union pride themselves on providing friendly personal service, affordable loans, competitive savings rates and continually adding new products and services to meet members’ needs.
Through this partnership, Ameritas Employees Credit Union members would gain access to the variety of products that MembersOwn Credit Union has to offer like real-time debit cards, credit cards and lower fees on lending products. In addition, services such as, a mobile banking app compatible with both iPhone and Android devices, MoneyDesktop (a financial aggregation application) and a nationwide network of over 5,000 shared branch locations, including eight in Lincoln, would be easily accessible to all members.
This joined credit union’s larger membership and collective resources would make adding new products and services more cost effective in the future including many that would have been out of reach for either credit union on their own.
Each credit union is owned by its members and is not-for-profit, meaning they return their earnings to their members. Every member owns an equal share of the credit union regardless of what accounts or balances they may have. Since both participating financial institutions are credit unions, there are no outside investors or stockholders. If this opportunity comes to fruition, the resulting credit union would remain locally and solely owned by the combined membership.
More exploration of the possibility of combining Ameritas Employees CU and MembersOwn CU will continue to take place over the next few months. All discussions and decisions are subject to membership approval, regulatory oversight and state law.