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2 ND credit unions looking to merge

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2 ND credit unions looking to merge

In North Dakota, Bismarck-based Capital Credit Union and Minot-based Town & Country Credit Union agreed to pursue a possible merger, the institutions announced on their websites.

The potential merger is contingent upon successful due diligence, affirmative membership votes of both credit unions, and regulatory approval.

It is anticipated that all employees will keep their jobs and all branches will remain open. All current directors will serve on the board, which will be composed of 18 members.

The combined credit union will also have a new name.

SNL data shows that as of Dec. 31, 2016, Capital CU had assets of $447.4 million, while Town & Country CU had assets of $389.7 million.