Premier Members Credit Union and Meritrust Credit Union announce intent to merge
BOULDER, CO, WICHITA, KS (October 10, 2024) — The Board of Directors and leadership teams of Premier Members Credit Union (Premier Members) and Meritrust Credit Union (Meritrust) are excited to announce their agreement to merge and unite two healthy credit unions for the benefit of their members and employees.
“As member-owned financial cooperatives, both of our credit unions share the same purpose and passion for financial well-being and commitment to improving the lives of our members, our employees, and the communities we serve,” says James Nastars, President/CEO of Meritrust. “We will now be able to use our combined strength to grow and expand those commitments to make a greater impact across Kansas and Colorado. That’s exciting for us.”
In this merger, Meritrust will adopt Premier Members existing Colorado state charter. The official name of the new credit union will be Meritrust Credit Union. Both credit unions will keep their existing brands as there is no overlap in existing markets and both brands have a strong presence in their respective communities. Meritrust CEO James Nastars and Premier Members CEO Carlos Pacheco will lead the new credit union as Co-CEOs.
Expected completion of the merger is March 2025, pending the approval from the National Credit Union Administration and Meritrust’s membership. After completion, the combined credit union will proudly serve over 200,000 members with 33 branch locations across communities in Kansas and Colorado, with 650 employees and nearly $4 billion in assets.
Carlos Pacheco, President/CEO of Premier Members Credit Union says, “We are not just combining assets. We are uniting for our members, for our employees and for our communities. Together, we will build a stronger, more innovative credit union that can better meet the evolving needs of our members and the communities we serve.”
As the process moves forward, both credit unions are committed to making this journey as smooth as possible for members and keeping them updated at every important step in this process via their websites and other member communication channels.
More information on this merger can be found at pmcu.org and Meritrustcu.org.
About Meritrust Credit Union
In 1935, seven pioneers from Stearman Aircraft Company in Wichita, Kansas, organized and chartered a credit union for its employees. From there, membership grew to include employees of Boeing, their suppliers and, in time, Spirit AeroSystems. In nine decades, we've expanded our mission, our team, and our membership. With a legacy rooted in aviation, Meritrust today is over $1.9 billion in assets, serves over 118,000 members with 14 branches within the Wichita, Manhattan, and Lawrence communities and throughout the Midwest. As a member-owned cooperative, Meritrust serves a broader purpose that emphasizes the financial health and well-being of its employees and members. For more information, visit www.meritrustcu.org.
Premier Members Credit Union
In 2015, Premier Members Credit Union and Boulder Valley Credit Union joined forces in a “merger of equals” to form a new credit union under the Premier Members Credit Union brand. Headquartered in Broomfield, Colorado, with assets exceeding $1.7 billion, 19 branches and nearly 300 employees, they put their 78,000 members first. Premier Members Credit Union provides modern technology with unmatched service while keeping a strong focus on uplifting communities. For more information, visit Premier Members online at www.pmcu.org.
