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Labor Day, September 7, 2015
General Drivers Credit Union to merge with Alliant Credit Union
Dubuque, IA- Alliant Credit Union (ACU) and General Drivers Credit Union (GDCU), two Dubuque financial institutions, announced today that the two credit unions intend to merge. The Board of Directors from both credit unions have signed a letter of intent. The proposed merger has secured approvals from the NCUA and Iowa regulators.
The proposed merger would combine the two credit unions and would create a $113 million asset financial institution with over 11,000 members. The combined entity will continue to be called Alliant Credit Union. The newly combined financial instituion will continue to have six branches in Iowa (three Dubuque; two Cedar Rapids; and one Burlington).
Commenting on the strength and soundness of Alliant Credit Union, Sonya Hudspeth, manager of General Drivers Credit Union stated, “After reviewing options for the benefit of their membership, the Board of Directors of General Drivers Credit Union voted to merge with Alliant Credit Union. We are excited to have our members have access to more financial opportunities, products and services. Since both GDCU and ACU are select-field of membership credit unions, we felt this merger would benefit both memberships.”
Mike Moroney, President/CEO of Alliant Credit Union commented, “The merger between Alliant Credit Union and General Drivers Credit Union will create a great partnership which will give GDCU members new services and products that otherwise would not be available. The partnershp will create greater economies of scale and all members of both credit unions will benefit.” Moroney continued by saying, “General Drivers Credit Union is a local credit union that have had the same core values of Alliant Credit Union, and like ACU, have always offered great service, with great rates and reliable products to its members. The Board and Staff at ACU are excited to welcome GDCU to our membership.”
Following final approval, the merge is expected to be completed by Fall, 2015. Please continue to watch for the upcoming mailings from both General Drivers Credit Union and Alliant Credit Union for important dates and information about the merge.
For more information about Alliant Credit Union, please visit www.alliantcu.com
If you have any questions or concerns about the upcoming merger with Alliant Credit Union, please contact us 563-556-2114
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