CommunityAmerica Credit Union Expands Reach
CommunityAmerica Credit Union has taken a significant step toward expanding its footprint in the St. Louis area by merging with Electro Savings Credit Union. This merger, effective from January 1, aims to enhance service accessibility for members across the metro area. CommunityAmerica, already the largest credit union in Missouri, is excited to welcome more St. Louis residents into its family.
Strength in Community
Lisa Ginter, the CEO of CommunityAmerica, expresses enthusiasm about the partnership, highlighting that Electro Savings shares their commitment to improving the financial well-being of its members. By joining forces, they aim to invest even more in the local communities. This merger not only combines resources but also enhances the ability to serve and uplift the people of St. Louis.
Enhancing Member Experience
With the completion of this merger, which is expected later in the spring, CommunityAmerica will operate multiple branches within the St. Louis area, improving access to crucial financial services. The credit union is already set to unveil a new branch in Hazelwood and a flagship location in Des Peres, reflecting their growth strategy.
Unique Profit Payouts
One of the standout features of CommunityAmerica is its Profit Payout program, which distributes a portion of the credit union's profits back to its members. This initiative is set to expand with the merger, allowing even more individuals to benefit from their banking relationship with the credit union. Over the years, CommunityAmerica has distributed more than $100 million back to its members, underlining their commitment to shared financial success.
Leadership Focused on Growth
The merger signifies a commitment to growth and community service as Kathy O'Neill, with experience from the Federal Reserve Bank of St. Louis, is tasked with leading St. Louis operations. The aim is to foster long-term relationships and enhance service delivery throughout the region.
Innovative Partnerships
CommunityAmerica's growth approach isn't limited to merging with other credit unions. In 2023, it became an official banking partner of the St. Louis Cardinals, teaming up to engage the community in exciting new ways. This partnership not only elevates the credit union's profile but also allows for community connection through sports, demonstrating a mutual passion for enhancing local engagement.
A Comprehensive Financial Solution
As a full-service financial institution, CommunityAmerica offers a wide range of products, from everyday banking to complex financial services such as mortgages and business loans. With significant assets and a strong member base, they are equipped to meet the diverse needs of individuals and businesses in the St. Louis metro.
Community Commitment and Future Vision
This strategic move reaffirms CommunityAmerica's dedication to serving the St. Louis community. With plans for additional locations and an emphasis on community engagement, they aim to make a lasting impact on the financial landscape of the region.
Contact Information
For inquiries, contact Susan Johnson at CommunityAmerica Credit Union via phone at (913) 905-7769 or email at srjohnson@cacu.com.
Frequently Asked Questions
What is the significance of the merger?
The merger allows CommunityAmerica to expand its service areas and better serve its members in St. Louis, offering enhanced financial products and benefits.
How does the Profit Payout work?
CommunityAmerica distributes a portion of its profits to members based on their deposits and business with the credit union, promoting financial wellbeing.
Who will lead the St. Louis operations post-merger?
Kathy O'Neill, a veteran from the Federal Reserve Bank of St. Louis, will lead the operations, focusing on expansion and community involvement.
What new locations will open after the merger?
A new branch in Hazelwood and a flagship location in Des Peres are part of the expansion plan, with more locations under consideration.
How can members benefit from the newly merged credit union?
Members will have access to a wider network of locations and additional financial products, alongside the continued advantage of the Profit Payout program.
