Consolidated Hub-Co Approves Merger

Thursday, August 24, 2017

Aberdeen, South Dakota  -  August 24, 2017   An overwhelming majority vote by members of the Consolidated Hub-Co Federal Credit Union of Aberdeen have approved a merger with Dakotaland Federal Credit Union based out of Huron, South Dakota.  The Membership vote was the final regulatory step toward approval of the merger.  The planning stages begin now with the data conversion scheduled for December 31, 2017.  “The merger will provide additional services to Consolidated Hub-Co members, while gaining the efficiencies and support of being a part of a larger organization”, explains Dakotaland Federal Credit Union President, Dan Cumbee. 

 

 Consolidated Hub-Co Members can expect to see a new sign in front of the Aberdeen office located at 1601 8th Avenue N.E., but as in the past, they will continue to see the same friendly faces and receive the same great service they have come to expect from their credit union.  Along with the new name, Consolidated Hub-Co will experience an expanded offering of products and services.  “The addition of these new financial services will allow our members to make Dakotaland their primary financial institution.” states Cumbee.  Real estate lending, VISA credit cards and an extensive list of electronic services, are just a sample of the options coming in early January 2018 to the Aberdeen Branch.

 

 Along with maintaining the existing Consolidated Hub-Co building, Dakotaland Federal Credit Union intends to retain the 2 current staff and make room for 1 additional staff member in the near future.  Dakotaland is also excited to welcome current Board of Director Member for Consolidated Hub-Co, Lois Pletten of Aberdeen, as she joins the existing Board of Directors for Dakotaland Federal Credit Union. 

 

Consolidated Hub-Co was chartered in 1949 and has been serving a number of eligible select employee groups. The union of these two financial cooperatives will now expand the field of membership to those who live and work in 27 East North Central South Dakota Counties. 

 

Dakotaland Federal Credit Union has locations in Huron, Volga, Brookings, Madison, Redfield, DeSmet, Mitchell, Woonsocket and soon expanding to the community of Watertown. With 27,500 members and $310 million in assets, Dakotaland continues to be locally owned and operated offering a full-line of financial services since 1935.



Categories: 2017

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