Two St. Louis area credit unions have officially tied the knot, creating a roughly $670 million institution that will serve about 43,000 members across the region. West Community Credit Union and Gateway Metro Federal Credit Union are combining under the West Community name, with Jason Peach set to lead the expanded cooperative.
In an announcement on its blog, West Community described the move as a strategic partnership aimed at expanding services and branch access for members. The combined organization will operate as West Community Credit Union, and Peach will remain at the helm. “This is not about one credit union absorbing another,” Peach said in a statement, according to West Community Credit Union.
Assets, members and timeline
As CU Today has reported, West Community held about $491 million in assets and Gateway Metro about $173 million before the deal, figures that add up to roughly $664 million and closely track the combined total the credit unions are using in merger communications. In all, the merged institution will manage…..