Members of Qualtrust Credit Union voted last week in favor of a merger with Texas Trust CU, which was first announced earlier this year.
The union, which has already been approved by state and federal regulators, is expected to be completed by year-end. The combined credit union, which will have assets of more than $1.2 billion and serve more than 105,000 members, will operate under the Texas Trust banner, with 22 branch locations. Qualtrust employees are expected to be incorporated into Texas Trust’s staff.
“We welcome Qualtrust members and employees to the Texas Trust family,” Texas Trust President and CEO Jim Minge said in a statement. “Our aim is to create an environment that reflects the culture of each credit union – one where both memberships feel at home and where we are delivering service our members brag about.”
As a result of the merger, Qualtrust members will have access to a wider array of products and services, including credit cards, insurance and investment services, an in-house mortgage operation and a variety of business services.
“Texas Trust’s financial strength and commitment to its members, employees, and the community is what sold our board on the idea of a merger,” said John DiChiaro, president of Qualtrust Credit Union. “We know Texas Trust will treat our members and employees well and help our members build brighter financial futures.”
DiChiaro will stay with the credit union until the merger is completed, after which he plans to take a sabbatical before pursuing other opportunities.