Lincoln, Nebraska – Ameritas Employees Credit Union and MembersOwn Credit Union have announced that they will merge, combining their memberships and resources into one credit union. The merger will become effective in November 2014.
“I’m proud to announce that our members have voted their support, state and federal regulators have approved the merger, and we are working now to make it official in November,” says David Sanders, President of Ameritas Employees Credit Union.
Through this partnership, Ameritas Employees Credit Union members will gain access to many existing MembersOwn Credit Union products such as real-time debit cards, credit cards, and lower fees on lending products. In addition, services such as a Mobile Banking App for iPhone and Android devices, MoneyDesktop financial account aggregation application, and a Nationwide Network of over 5,000 shared branches—including eight in Lincoln—will be easily accessible.
This joined credit union’s larger membership and collective resources will also make adding new products and services more cost effective in the future, including many which would likely have been out of reach for either credit union by itself.
“Our similar identities and our combined strengths make this partnership a win-win for everyone, but especially for our members,” states Kenn Miller, MembersOwn Credit Union President.
Like its predecessors, the merged organization will be a member-owned, not-for-profit institution, meaning earnings are returned to members. Every member owns an equal share of the credit union regardless of what accounts or balances they have. Credit unions have no outside investors or stockholders. And like its two parent institutions, the resulting credit union will remain locally and solely owned by the combined membership.