Marine Credit Union, headquartered in La Crosse, Wisconsin, has announced plans to merge with Davenport-based Bent River Community Credit Union.
Bent River has one branch at 709 E. 46th St., Davenport. It has 1,500 members, $16 million in deposits and $12 million in loans and a field of membership from Scott, Clinton and Cedar counties.
The branch will become a Marine branch post-merger joining Marine's 31 branches across Wisconsin, Minnesota and Iowa. Marine has more than 60,000 members and more than $750 million in assets.
The merger agreement is subject to regulatory approval and an affirmative vote of the membership.
"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," said Randy Hass, Bent River's president and CEO. "We're excited for the opportunities our members will have with the Marine Credit Union."
In 2016, Marine Credit Union purchased Bent River's branch in Muscatine.
Hass said, "With additional administrative assistance in La Crosse, our employees can focus more on serving our members' needs."
Hass will remain on Marine's leadership team and all of Bent River's employees will be offered positions with Marine.
Marine CEO Shawn Hanson said the credit union looks forward to "expanding our impact in Davenport and the surrounding communities. This merger furthers our growth strategy and aligns with our mission."
The merger is expected to be complete in the first quarter of 2018.
Additional information regarding the merger's impact will be sent to the credit union's members.
— Times staff