Marine Credit Union Announces Agreement to Merge with Bent River Community Credit Union
DAVENPORT, Iowa (Nov. 20, 2017) — Marine Credit Union announced today that it has entered into a merger agreement with Bent River Community Credit Union (BRCCU), subject to regulatory approval and an affirmatory vote from the membership base. BRCCU has one branch in Davenport, Iowa, including 1,500 members, $16 million in deposits and $12 million in loans and Scott, Clinton and Cedar counties in their field of membership. The pending merger is expected to close in the first quarter of 2018. The BRCCU branch located at 709 E. 46th Street, Davenport, Iowa will remain open as Marine post-merger. Marine currently has 31 branches across Wisconsin, Minnesota and Iowa, over 60,000 members and over $750 million in assets.
Randy Hass, President and Chief Executive Officer of BRCCU, said, “Bent River Community Credit Union and Marine Credit Union have partnered in the past and share a passion for providing our members with the products and services to meet their needs and help them succeed financially. We’re both focused on our local communities.”
In 2016, Marine Credit Union purchased BRCCU’s branch in Muscatine, Iowa. Commercial Lending Manager
Hass continued, “We’re excited for the opportunities our members will have with Marine Credit Union. With the additional administrative assistance in La Crosse, our employees can focus more on serving our members’ needs.” After the merger, Hass will remain on Marine’s leadership team. All other BRCCU employees will be offered positions at Marine.
Members of BRCCU will receive additional information regarding the impact of the merger in the near future.
“We are pleased to partner with BRCCU to continue providing excellent service to the Davenport community. We look forward to welcoming the BRCCU members and employees to Marine Credit Union and to expanding our impact in Davenport and the surrounding communities,” said Shawn Hanson, Marine Credit Union CEO.
Hanson continued, “At Marine, we strive to make life better for those around us: our members, our
employees, and our communities. This merger furthers our growth strategy and aligns with our mission.”
About Marine Credit Union
Marine Credit Union is built upon the strong belief that members are more than a credit score, and we are committed to providing financial services to all members of the community—including those with past financial challenges. Marine will continue our long-standing tradition of delivering personalized lending solutions to fit our members’ individual needs. Marine Credit Union is a full-service financial institution serving over 60,000 members with office locations in Wisconsin, Minnesota and Iowa. For more information, connect with us on Facebook, Twitter, YouTube and LinkedIn.