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Infinity Federal Credit Union to Merge with Deere Employees Credit Union
Tuesday 20 October 2020

Maine, US-based Infinity Federal Credit Union intends to merge with Illinois-based Deere Employees Credit Union, the company said.

Terms of the transaction were not disclosed.

Each credit union will retain local control, including keeping their respective names, identities, and branches to continue serving local communities.

Upon merger approval, the credit union will be headquartered in Moline, Illinois.

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 USD 1.5bn in assets.

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.

Deere Employees Credit Union serves Deere and 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.
Date Published: 20/10/2020