NCUA Approves Arkansas Federal Credit Union and Arkansas-Democrat Gazette Federal Credit Union Merger
Arkansas Democrat Gazette Member Vote to Follow
(JACKSONVILLE, Ark. – October 23, 2019) — In a joint release, Rodney Showmar, president and chief executive officer of Arkansas Federal Credit Union headquartered in Jacksonville, Ark., and Kathi Wieneke, chairman of Arkansas Democrat-Gazette Federal Credit Union (FCU), headquartered in Little Rock, Ark., announced today that their respective Boards have entered into an Agreement for Arkansas Democrat-Gazette FCU to merge with Arkansas Federal Credit Union subject to vote by members of Arkansas Democrat-Gazette FCU.
Members of Arkansas Democrat-Gazette FCU should continue to manage their accounts as usual. Once members have approved the merger, Arkansas Democrat-Gazette FCU members will receive notifications from Arkansas Federal in advance advising them of any changes to their accounts. If members have questions between now and the final merger, they should contact their current Arkansas Democrat-Gazette FCU office.
Upon completion of the merger and systems conversion, Arkansas Democrat- Gazette FCU members will have access to a full suite of financial products and services, including: home and auto loans; credit cards; home equities; checking, savings and money market accounts; certificates of deposit; plus HSA and IRA accounts. They also will have access to a full suite of small- to medium-size business accounts and commercial loans. Additionally, Arkansas Federal offers one-stop shopping for auto, home and life insurance, plus retirement and investment services.
In addition to the 15 branch locations, with three more on the way, and 30,000 surcharge-free ATMs, Arkansas Democrat-Gazette FCU members also will be able to manage their finances 24/7 via online and mobile banking solutions. Services such as Card Defend, which allows members to protect and manage their debit and credit cards in real time; Apple Watch, which allows members to check balances and view transactions; remote deposit capture right from their phones; and many other features will all become available to the Arkansas Democrat- Gazette FCU members.
“We are thrilled to be able to make a difference in the lives of more Arkansans by expanding our full suite of products and services to the members of Arkansas Democrat-Gazette FCU,” said Showmar. “Arkansas Federal is known for providing extremely competitive loan rates, high deposit rates and friendly, professional service. And we look forward to serving our new members, which will provide them with more options for managing their finances both in-branch and online.”
Wieneke stated, “Arkansas Federal Credit Union is a respected and financially sound financial institution. We believe the commitment the organization has shown to its employees, members and the communities it serves in Arkansas will be positive for our members. Once approved, our members will be able to enjoy a one-stop shop for all of their financial needs combined with local,knowledgeable and friendly staff plus the convenient digital management tools such as mobile banking consumers expect. We look forward to working with the team at Arkansas Federal to make this a successful and seamless transition for everyone involved.”
ABOUT ARKANSAS FEDERAL CREDIT UNION:
Arkansas Federal Credit Union is the largest credit union and one of the largest financial institutions in Arkansas with more than $1.2 billion in total assets and more than 300 employees. Arkansas Federal has 15 branches throughout Arkansas, which serve more than 108,000 members. www.afcu.org. #OpenToAllArkansans
ABOUT ARKANSAS DEMOCRAT-GAZETTE FEDERAL CREDIT UNION:
The Arkansas Democrat-Gazette Federal Credit Union was established to serve the employees of the Arkansas Democrat newspaper, receiving its state charter in 1936 and federal charter in 1992. Since then, the field of membership has grown to include all WEHCO Media newspaper, cable and digital services companies located in Arkansas. The Arkansas Democrat-Gazette FCU has more than 670 members and assets of $2.8 million.