Infinity Federal Credit Union of Maine and Deere Employees Credit Union of Illinois Announce their Intent to Merge

10/16, 6:50 PM (Source: GlobeNewswire)

Westbrook, Maine, Oct. 16, 2020 (GLOBE NEWSWIRE) -- Infinity Federal Credit Union (Westbrook, Maine) and Deere Employees Credit Union (Moline, Illinois) announce their intent to merge, subject to member and regulatory approval.

Each credit union will retain local control, including keeping their respective names, identities, and branches to continue serving local communities. Systems and services (i.e. online banking, routing numbers, etc.) will remain unchanged, reducing the impact of the change on members who will continue to bank as they are today.

“The goal is to combine resources for mutual benefits driving further growth and expansion in our communities and offering more benefits to our members.” said Infinity FCU President/CEO Elizabeth Hayes and DECU President/CEO Kurt Lewin in a joint statement.

Upon merger approval, the credit union will be headquartered in Moline and led by DECU President/CEO Kurt Lewin. Elizabeth Hayes, Infinity FCU’s President and CEO, will assume the role of Maine Market President and will lead the employees, operations, and community partnerships in Maine. The combined credit union will provide more opportunities for employee growth and professional development, with no planned reduction in employees at this time. It will represent 60,000 members and over $1.5 billion in assets.

About Infinity Federal Credit Union

As Maine’s first credit union, Infinity Federal Credit Union has been serving its members since 1921, initially as the Telephone Workers Credit Union of Maine, then as Telco of New England FCU. Infinity FCU is now community-based, available to anyone who lives, works, worships, or attends school in Cumberland and York counties and the city of Bangor, Maine. Infinity FCU is a not-for-profit cooperative organization owned by its members and guided by the vision: “We do banking differently to keep you a step ahead in life.” For more information about Infinity FCU, please visit www.infinityfcu.com.

About Deere Employees Credit Union

Deere Employees Credit Union, headquartered in Moline, Illinois serves Deere & Company’s 60,000 world-wide employees and retirees and their families; contract employees for John Deere and employees of wholly owned subsidiaries or joint venture of John Deere; employees of John Deere Dealers and their families. Offering financial products and services to more than 42,000 members, DECU operates 25 branches located inside John Deere facilities across the country

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Kathy Guillory
Infinity Federal Credit Union
(207) 854-6000
kguillory@infinityfcu.com
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