Members of the $6 million Dekalb County Credit Union voted to merge the credit union into the $617 million Vibrant Credit Union.
Based in Moline, Ill., Vibrant CU said it expects to complete the merger in 2018. Upon closing, Dekalb County CU’s one location in Dekalb, Ill., will become a Vibrant CU location.
Vibrant CU also said that former Dekalb County CU staff “have now joined” its “award-winning team.”
"Vibrant is excited to share our culture and state of the art technology with Dekalb County Credit Union’s membership ” Matt McCombs, president and CEO of Vibrant CU, said in a statement. “This is an exciting time and we believe we can really focus and improve financial opportunities and innovations to enhance the overall member experience.”
Dekalb County posted a net loss of about $41,000 last year, after recording a loss of nearly $22,000 in 2015. Meanwhile, Vibrant CU posted net income of about $6 million in 2016, up from $2.2 million the year before.