Rodney Showmar, president and chief executive officer of Arkansas Federal Credit Union headquartered in Jacksonville, Ark., announced the completion of the merger of Arkansas Democrat-Gazette Federal Credit Union with Arkansas Federal Credit Union.
The merger process was approved by regulators and affirmed by a vote of Arkansas Democrat-Gazette members on December 10, 2019.
“With the completion of this merger, Arkansas Federal is now able to make a difference to more Arkansans than ever before” said Showmar. “We’re proud that our new members can enjoy the added convenience of 15 branch locations, online and mobile banking solutions, insurance, retirement and investment services, as well as a full suite of financial products and services that other Arkansas Federal members have come to expect from their credit union.”
The Arkansas Democrat-Gazette Federal Credit Union was established to serve the employees of the Arkansas Democrat newspaper, receiving its state charter in 1936 and federal charter in 1992. Since then, the field of membership had grown to include all WEHCO Media newspaper, cable and digital services companies located in Arkansas. The Arkansas Democrat-Gazette FCU had more than 670 members and assets of $2.8 million.