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Mid-Minnesota Federal Credit Union announces merger [UPDATED]

Published 8:02am Monday, December 24, 2012 Updated 10:03am Monday, December 24, 2012

Officials at Mid-Minnesota Federal Credit Union (MMFCU) announced this week, the organization has acquired approximately 500 new members through a merger with the Ashby Federal Credit Union.

MMFCU President and CEO Chuck Albrecht said the Baxter-based credit union was contacted earlier this year regarding a potential consolidation with the smaller organization.

“The Board of Directors from the Ashby Federal Credit Union approached us to merge their credit union into MMFCU due to the difficulty of being able to offer the services their members were requesting and the increasing compliance burden,” Albrecht shared.

Last week, the Ashby Federal Credit Union Board of Directors and members voted to approve the merger, providing approximately new 500 members with access to MMFCU services and facilities, including their full-service branch in Alexandria, beginning Dec. 1.

“We are honored to be a part of this process,” Albrecht continued, “and look forward to serving this new membership base with the same great service MMFCU has become known for.”