Dec 02, 2021

Heartland Credit Union announces merger

Posted Dec 02, 2021 3:52 PM

HUTCHINSON, Kan. —Heartland Credit Union is expanding. The Hutchinson-based financial institution announced that they have reached an agreement to merge with Farmers Credit Union of Hays.

The merger would create a credit union with just over $500 million in assets and 33,000 members. One branch in Hays will join the eight HCU branches in Hutchinson, Haven, Newton and Wichita, including the Salthawk Center Branch inside Hutchinson High School. The combined credit unions will operate under the Heartland Credit Union name and leadership team.

Initial discussions regarding a potential merger started after Farmers President Guy Forell announced his intention to leave the credit union later in 2021. All other Farmers Credit Union employees will be retained. Farmers Credit Union will be entering into a management agreement with Heartland to ensure a smooth transition for members and employees.

“Our goal at Farmers Credit Union has always been to do what is right for our members,” Darren Walters, Board Chair of Farmers Credit Union said. “After evaluating several options and having extensive discussions regarding the future of the credit union, the decision to partner with Heartland Credit Union became clear. Their culture and commitment to excellent member service and superior products assures us this is the right move for our members. We are excited for the opportunity to welcome Farmers Credit Union members to Heartland,”

Dan Springer, Heartland Credit Union President/CEO said. “Our wide range of financial products, along with market leading rates, will provide excellent value to their members. It will also provide HCU the opportunity to expand our coverage area, better serving the growing number of Heartland members in central Kansas.”

The merger is contingent on final due diligence, regulatory approval, and a vote of the membership. Once regulatory approval is received, a merger packet and ballot will be made available to all members in good-standing. This should take place in the first quarter of 2022.

CLICK HERE to download the HutchPost mobile app.
CLICK HERE to sign up for the daily HutchPost email news update.