Space City Credit Union Ready for Takeoff
On May 10, 2012, members of Independence Parkway FCU voted to approve a proposed merger with Space City Credit Union. The combination of the two credit unions will create a $60MM credit union, moving Space City up twenty-six places on the Texas Credit Union Department’s list of Texas Credit Unions.
Effective June 30th the combined entity will operate under the Space City Credit Union name. The credit union will boast five branch locations in Houston and La Porte, Texas, along with their continued participation in shared branching. “Access will not be an issue for current or future members!” said Chris Jeanes, current VP of IPFCU.
Thursday’s vote was a crucial step in the merger approval process which both boards announced in March and state and federal regulators later approved. “Independence Parkway Federal Credit Union members won’t see any changes to their accounts until the two institutions’ systems are merged on June 30th”, said IPFCU CEO Steve Cook, who will remain with the credit union as Senior Vice President. Craig Rohden, Space City’s current CEO since 1994, will remain the organizations President and CEO.
Rohden commented, “We’re all very excited about the merger. Our economy of scale is increasing and this will allow us to serve our members better. Having more resources to leverage is a definite plus.” For more information on Space City CU visit their web site at www.SpaceCityCU.com.