Wichita, KS: The Board of Directors of Central Star Credit Union and Golden Plains Credit Union announced today their intent to merge the two Kansas credit unions. The partnership will result in one of the strongest financial institutions in the state with a combined 15 branches, $525 million in assets, and more than 70,900 members.
The boards of both financial cooperatives approved an intent to merge agreement on July 24.
The merger will provide expanded service offerings, additional locations, improved product lines and greater financial stability for both Central Star and Golden Plains members.
“Golden Plains Credit Union is the ideal strategic partner for us,” stated Lee Williams, President/CEO of Central Star Credit Union. “We explored multiple options for our membership’s future growth, and a partnership with Golden Plains was without question a win-win for all. Both credit unions offer strong financial services, our fields of membership will enhance one another, and we share a common vision and values for members, employees and our communities.”
Golden Plains Credit Union President Erich Schaefer stated, “The opportunity to provide our 3,000 Sedgwick County members with three outstanding local offices is a tremendous benefit. In addition, we are excited to join Central Star Credit Union in serving members in the aircraft industry, chemical industry, and the greater Wichita community. Both Central Star and Golden Plains have a strong history of commitment to reach out to our field of membership and to provide superior value at every member contact. Our boards see the advantages to our members through diversity, increased efficiencies, expanded services, and complementary branch locations. All three Central Star locations will remain in operation and will join the 12 Golden Plains locations throughout western, central and southeast Kansas. This is an exciting merger for Golden Plains, and we’re thankful to be joining with the wonderful volunteers, staff and membership at Central Star Credit Union.”
The proposed merger must secure approvals from the NCUA, the Kansas Department of Credit Unions, and the members of both credit unions. The merger is expected to be completed late 2014.
About Central Star Credit Union Founded in 1940 $75 million in assets 8,700 members 3 locations 17th largest credit union in Kansas
Contact Lee Williams, President/CEO Central Star Credit Union 316.685.9555, ext. 135
About Golden Plains Credit Union Founded in 1951 $450 million in assets 62,200 members 12 locations 3rd largest credit union in Kansas
Contact Erich Schaefer, Member-President Golden Plains Credit Union 620.260.1400