ALEXANDRIA, Va. (Dec. 14, 2011) – The National Credit Union Administration (NCUA) Board today approved the merger between Treasure State Corporate Credit Union (Treasure State) of Helena, Mont. and Kansas Corporate Credit Union (Kansas) of Wichita, Kan. Kansas Corporate remains as the continuing corporate credit union.
Both corporate credit unions are financially sound but sought to merge in order to benefit from improved efficiencies and increased service volumes without significant additional expense. The merger is expected to be effective as of January 1, 2012.
Created in 1977, Treasure State is a $230 million state-chartered corporate serving 57 credit unions providing a wide range of correspondent services to meet the financial needs of their credit unions.
Kansas Corporate is a $315 million state-chartered corporate providing their 148 credit unions access to correspondent services, investment solutions, liquidity solutions, and technology services.
NCUA is the independent federal agency created by
the U.S. Congress to regulate, charter and supervise
federal credit unions. With the backing of the full
faith and credit of the United States, NCUA operates
and manages the National Credit Union Share
Insurance Fund, insuring the deposits of nearly 100
million account holders in all federal credit
unions and the overwhelming majority of
state-chartered credit unions. At
Pocket Cents, NCUA also educates the public on consumer protection and financial literacy issues.