Andigo Credit Union and Consumers Credit Union Have Merged To Become $2.3 Billion Credit Union
SCHAUMBURG, IL ––– Andigo Credit Union ($868M; Schaumburg, IL) and Consumers Credit Union ($1.41B; Gurnee, IL) have officially merged, creating the 5th largest credit union in Illinois. The newly combined credit union, which will operate under the name Consumers Credit Union, serves more than 163,000 members and over $2.3 billion in assets.
The combined credit union employs more than 500 people in the Chicago area and offers members 18 branches, access to a national shared branching network, with more than 80,000 surcharge-free ATMs worldwide.
“With the talent and products we have at both credit unions, we have a competitive edge that enables us to offer best-of-breed products and services to our growing member base with the largest credit union branch network in the Chicago area,” said Sean Rathjen, CEO of Consumers Credit Union.
While the merger is official, the two credit unions will continue to run their respective operations, mostly as-is, until 2021. This transitional period provides time to fully integrate the two organizations. During this time, Andigo will operate as Andigo Credit Union, a Division of Consumers Credit Union – offering their current products and services to both existing and new members.
“Our leadership team and board of directors strongly believe that together we can deliver even greater value and service to our members,” said Mike Murphy, President of Consumers Credit Union (former CEO of Andigo Credit Union). “The combination of two strong, healthy credit unions provides us with the scale we need to innovate and dedicate resources to continue to deliver exceptional member experiences, both in-person and digitally in our evolving economy.”
About Andigo Credit Union
Headquartered in Schaumburg, IL since 1939, Andigo serves more than 37,000 members with $868 million in assets. It is one of the largest not-for-profit, member-owned financial institutions in the state. Andigo passes proceeds back to members in the forms of better rates and lower fees, while having more fun along the way. In short, it’s like a bank, without the bummer. To learn more about Andigo’s products and services, or for information on how to join, visit www.andigo.org.
About Consumers Credit Union
Headquartered in Gurnee, IL since 1930, Consumers serves more than 126,000 members with $1.41 billion in assets. As one of the largest credit unions in Illinois, Consumers is dedicated to their members no matter where they move or how their lives change. Consumers’ commitment is to their members, no matter where life takes them. To learn more about Consumers’ products and services, or for information on how to join, visit www.myconsumers.org.
