JAMESTOWN, N.D.-Two credit unions based in North Dakota have agreed to merge, a move that will give the combined institution assets of about $800 million.
Jamestown-based First Community Credit Union announced Monday, Dec. 18, that it has entered into an agreement to merge with Citizens Community Credit Union, which is based in Devils Lake.
The transaction is expected to close Jan. 1, according to a news release, with the operational merger happening later in 2018.
Once it's complete, the combined entity will be headquartered in Jamestown and operate as First Community Credit Union. Even before the merger, First Community is already the largest credit union in North Dakota serving the communities of Fargo, Bismarck, Hankinson, Jamestown, Milnor, Napoleon, Oakes, Portland, Steele, Valley City, Wahpeton and Wishek.
A news release said the merger will allow the credit union to offer a wider range of products and services while also having more locations available to members.
Citizens Community Credit Union was founded in 1940 and now serves the communities of Grand Forks, Larimore, Northwood, Lakota, St. John, Bisbee, Fort Totten and Devils Lake.
For more information, visit www.myfccu.com.