Press
SunCorp and Alloya receive regulatory approval to merge
WESTMINSTER, CO & WARRENVILLE, IL (January 15, 2015) — System United Corporate Federal Credit Union (SunCorp) and Alloya Corporate Federal Credit Union (Alloya) announced today that the National Credit Union Administration (NCUA) has approved the application for SunCorp to merge into Alloya.
The members of SunCorp will now be asked to vote on the plan next month. If approved, the merger is expected to be completed by February 28, 2015. SunCorp will host town hall meetings and webinars for members in advance of the vote.
As previously announced, the combined corporate’s name will be Alloya Corporate. It will serve members coast to coast from five offices (including Westminster), with member contact staff in all four U.S. continental time zones. Alloya will retain approximately half of SunCorp’s employees.
About SunCorp
SunCorp is System United Corporate Federal Credit Union, a full-service financial cooperative serving credit unions, CUSOs, and credit union associations throughout the Western States. SunCorp provides payment services, free lines-of-credit, and investments delivered with superior member service and the benefits of cooperative ownership and pricing. For more information, please visit www.suncorp.coop.
About Alloya Corporate FCU
Alloya provides critical cooperative services to approximately 1,500 member credit unions in ten core states and beyond, including investment, financial, lending and correspondent services. Headquartered in Warrenville, Illinois, Alloya offers a dependable and affordable Line of Credit, secure and efficient product access and settlement, and unparalleled member service to its members. To learn more, visit www.alloyacorp.org.