IBEW LU 702 Credit Union merges and continues to grow as Southern Illinois University Credit Union

http://www.southernillinoisan.com/rednews/2004/01/11/build/business/BIZ003.html





SIU CREDIT UNION KEEPS GROWING WITH TWO MERGERS

[Sat Jan 10 2004]

CARBONDALE -- Southern Illinois University Credit Union continues to grow after two recent mergers with other area credit unions.

On. Jan. 1, SIU Credit Union merged with the Southern Illinois Schools Credit Union of Marion. Records will be merged Feb. 1.

Also in February, SISCU members will be able to bank at all SIU Credit Union locations.

SIU Credit Union officials said in a news release that other than a name change, there will be no noticeable effect on members' accounts or transactions.

In addition, all SISCU employees have been offered jobs at the SIU Credit Union, according to the news release.

SISCU has been a member of Southern Illinois community for 53 years. Its membership is made up of retired and active school employees in school districts located in Alexander, Pulaski, Massac, Union, Johnson, Pope, Hardin, Jackson, Williamson, Saline, Gallatin, Franklin, Hamilton, Wayne, Jefferson and Perry counties along with West Frankfort Municipal Employee Group and Franklin-Williamson Human Services and members of the Lake of Egypt Association of Property Owners.

SISCU has 3,300 members and is about $14 million in assets.

In late 2003, SIU Credit Union also merged with the International Brotherhood of Electrical Workers 702 Federal Credit Union of West Frankfort.

IBEW 702 Federal Credit Union had about 600 members and $1.1 million in assets. Companies impacted by that merger include Penn Aluminum, Murphysboro; Electrical Specialists, Marion; Oil Field Electric, West Frankfort; and Cairo Public Utility, Cairo.

Recently, SIU Credit Union received its community charter allowing the credit union to serve all people living or working in Franklin, Jackson, Johnson, Perry, Union or Williamson counties.

SIU Credit Union, with assets exceeding $85 million and 17,000 members, has been in operation since 1938.

For more information about the merger, contact Southern Illinois Schools Credit Union at (618) 993-5005 or SIU Credit Union at (618) 457-3595. For information on becoming a member of SIU Credit Union, call (618) 549-3636.