WESTMINSTER, Colo. and WARRENVILLE, Ill. — System United Corporate Federal Credit Union (SunCorp) and Alloya Corporate FCU on Thursday said NCUA has approved the application for SunCorp to merge into Alloya.
Next, members of SunCorp will now be asked to vote on the plan in February. SunCorp said it will host town hall meetings and Webinars for members in advance of the vote.
If approved, the merger is expected to be completed by Feb. 28.
The combined corporate's name will be Alloya Corporate. It will serve member CUs across the United States from five offices — including SunCorp's present headquarters in Westminster, Colo. — with member contact staff in all four U.S. continental time zones.
Alloya said it will retain approximately half of SunCorp's employees.
SunCorp currently serves credit unions, CUSOs and credit union associations throughout the Western States.
Alloya provides services to approximately 1,500 member CUs in 10 core states and beyond, including investment, financial, lending and correspondent services.