FORT WAYNE, IN (August 19, 2022) — East Allen Credit Union (EACU) in New Haven and Fort Wayne-based ProFed Credit Union (ProFed) are planning to merge later this year. Both credit unions say the merger has received regulatory approval, but it is still awaiting a member vote at East Allen Credit Union.
The merger will add a wide range of affordable financial products and services, expanded hours, convenient branch locations, and more to East Allen Credit Union’s nearly 1,600 members. Some exciting new additions include 24/7 digital banking services and mobile features, extended call center and lobby hours, a new personal way to bank with video teller machines, and over 36,000 + more surcharge-free ATMs to access across the country.
East Allen Credit Union has been in operation since 1965. The acquisition will allow ProFed Credit Union to expand its reach into the New Haven community and continue serving EACU members with almost 90 years of banking experience. The New Haven branch will retain many of the same familiar staff members, but members should anticipate a future new look with plans to start construction shortly after completing the acquisition to bring the look and feel up to date with other current ProFed branches.
Nina Baker, President, and CEO of ProFed Credit Union will take on the privilege of leading both credit unions. “ProFed has considered entering the New Haven market for several years, and this partnership with EACU made this achievable. I am excited to provide a range of financial products and services to help enrich the lives of EACU’s members.”
ProFed has been serving members since 1933 and operates in twelve branches throughout nine counties in northeast Indiana. EACU currently has one branch in New Haven and will operate as a branch of ProFed Credit Union after the merger is finalized. This partnership will grow ProFed’s total number of branches to 13, almost 60,000 member-owners, over 190 employees, and approximately $650 million in total assets.
Pending member approval, the acquisition is anticipated to close at the beginning of October.
Founded in 1933, ProFed Federal Credit Union is a $575 million financial services organization with 55,000 member-owners. Anyone that lives, works, worships, or volunteers in Adams, Allen, DeKalb, Huntington, LaGrange, Noble, Steuben, Wells, and Whitley counties in Indiana qualifies for membership. For more information, visit www.profedcu.org. ProFed is an Equal Housing Opportunity and Equal Opportunity Lender, insured by the NCUA.
Rachel Murphy
Vice President/Marketing Director
ProFed Credit Union
260-496-1384
rmurphy@profedcu.org
