Houston, TX (Vocus) December 16, 2008
Smart Financial Credit Union and Key Federal Credit Union have put the finishing touches on their merger that took effect on June 30, 2008.
Since the merger announcement, made in early 2008, the two institutions have worked diligently to integrate account offerings, processes and data.
Smart Financial Credit Union, a Houston-based, full-service financial services provider, now serves more than 80,000 members and has over $392 million in assets. The merger also increases the number of SFCU locations to 17, most of which are located within the Greater Houston area. The Credit Union also operates offices in Port Arthur and Beaumont, Texas as well as Lake Charles and Alexandria, Louisiana.
"I feel we are nearing the final phase of our merger journey, which I call 'our period of adjustment'…not only for the staff of both organizations but there is also an adjustment period for our members," says Jenny Smith, former president & CEO of Key FCU and now SVP of Medical Operations for SFCU. "I think that we all did a good job of communicating the changes and showed how the merger would increase the value of their membership."
"Regardless of asset size, both institutions face significant challenges in getting the multiple stages of a successful conversion completed," adds SFCU president & CEO, Gary Tuma. "I think we had an excellent approach to the combination of the two credit unions. At the end of the day, I think we are both going to benefit greatly from the merger."
About Smart Financial Credit Union
Smart Financial Credit Union (http://www.smartcu.org) is a Houston-based, full-service financial services provider with more than $392 million in assets. Established in 1934, Smart Financial Credit Union today serves a diverse field of more than 80,000 members, including Houston-area educators, medical professionals, employees of more than 300 private companies and residents of Fort Bend, Harris and Montgomery Counties. The 74-year-old institution delivers thoughtful banking to its members through 17 office locations.
Matt Oltremari, Smart Financial Credit Union
# # #