MORTON GROVE, Ill., Aug. 27, 2020 /PRNewswire/ — Partnership Financial Credit Union (PFCU) and Glenview Credit Union (GCU) merged this summer on August 1, 2020, announced the financial organizations.
The combined credit union will operate under the Partnership Financial Credit Union’s name and will serve more than 12,000 members with over 215 million in assets.
The merger has received the needed regulatory approvals as well as approval of both organization’s members, officials said in a statement. Unlike traditional banks, credit unions are nonprofit organizations whose members have a vote in operations, which is typically conducted at a meeting.
PFCU CEO Mary Ann Pusateri will continue in that role, while GCU CEO Dan Stojanovic will serve as President of PFCU. It will employ more than 38 people in 5 branches in the northern suburbs.
“The partnership of our two strong, healthy credit unions will provide us with the scale we need, to innovate and to dedicate resources to deliver exceptional member experiences, both in-person and digitally,” Pusateri said in a prepared statement.
The combination of the two credit unions will give the new PFCU “a competitive edge that will enable us to offer best-of-breed products and services to our growing member base,” Stojanovic said in a statement.
Partnership Financial Credit Union (PFCU) is a member-owned financial institution with offices in Morton Grove, Barrington, Des Plaines, Evanston and now Glenview. PFCU was established in 2014 when four Chicago-area credit unions joined, whose origins date back to the 1950’s. PFCU remains dedicated to maintaining close, personable relationships with members while delivering the best possible products and services. Along with CEO Mary Ann Pusateri’s long tenure of over 31 years, PFCU has many team members with 20 plus years of service with the credit union. Learn more about PFCU at www.mypfcu.org.
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SOURCE Partnership Financial Credit Union (PFCU)