Credit Union 1 Finalizes Emory Alliance Credit Union Merger, Increasing Asset Size to $1.6 Billion
CHICAGO, December 2, 2022 (Newswire.com) - Credit Union 1 (CU1)—the Official Banking Partner of Notre Dame Athletics, with a national online presence and physical branches across Illinois, Indiana, and Nevada—recently announced both the year-end merger with Emory Alliance Credit Union (EACU) of Atlanta, GA, as well as first quarter 2023 acquisition of NorthSide Community Bank in northern Chicagoland, increasing asset size to $1.8 billion and an estimated 109,000 members by first quarter 2023.
Credit Union 1's merger with EACU, which marks the credit union's entry into the southeast United States, will have Emory Alliance Credit Union keep its name and operate as a Division of Credit Union 1 to maximize the partnership with Emory University and Emory Health Care Network, the second largest employer in the Atlanta Metropolitan area. The acquisition of NorthSide Community Bank—with branches in Gurnee, Mundelein, Niles, and Riverwoods—continues to build out CU1's presence in Illinois.
"As Credit Union 1 turns 65, we are looking toward the future with a focus on thoughtful expansion, building a nationwide presence for our members while also retaining the local community feel and high level of service that our long-time members have come to expect from CU1," says Todd Gunderson, President and CEO of Credit Union 1. "As we grow, we have prioritized partnering with organizations that share our vision and values, so that each merger is a true benefit to our new and existing members."
Credit Union 1's top priority is the member experience, providing new members with an expanded array of products, highly competitive rates, a larger national footprint, and investment in local communities. In 2023, CU1 will donate more than $500,000 to benefit community members through partnerships with the Golic Family Foundation, University of Illinois Chicago, Western Illinois University, and more. CU1 also offers its members a modern, everyday banking experience thanks to its continued investment in technology, providing features like a highly rated mobile app, an easy-to-use digital banking platform, conveniences like CU1 Card Keeper, the opportunity for member service via LiveChat, and much more.
About Credit Union 1
Credit Union 1 is celebrating 65 years of helping members reach their financial goals. CU1 is a state-chartered, federally insured, member-owned, not-for-profit financial cooperative serving 85,000 members across 14 branches located in Illinois, Indiana, and Nevada. CU1 also serves members nationwide thanks to a highly rated mobile app, 30,000 surcharge-free ATMs, and 5,000 shared-branch locations. CU1's mission is to exceed our members' expectations by delivering innovative financial solutions to help achieve their maximum economic potential.
Source: Credit Union 1
