SPIRE: Proposed credit union merger still needs OK from Hiway members
A proposed merger between the SPIRE Credit Union and the Hiway Credit Union has been approved by the National Credit Union Administration (NCUA), announced SPIRE in a news release on Tuesday.
Officials say although Hiway plans to join the slightly larger company of SPIRE, the decision will still have to be approved by Hiway’s over 90,000 members.
If approved, SPIRE and Hiway will merge to create a new organization with a new name, entity, brand and look, according to SPIRE. Current SPIRE President/CEO Dan Stoltz would take on the role of CEO, while Hiway President/CEO Dave Boden would become the new organization’s President.
“We’re proud to bring together two already strong credit unions for the betterment of all involved: our members, our people, and our communities,” said Boden.
The Hiway member meeting vote is set for September 13, 2023. If approved, the effective date of the merger would be January 1, 2024, and would serve roughly 250,000 people.
In addition, SPIRE says all branches would stay open and all employees would be kept.
For more information on the SPIRE and Hiway merger, CLICK HERE.