Voyage Federal Credit Union is excited to announce a proposed merger with Vermillion Federal Credit Union, pending regulatory approval from the NCUA and a supportive vote from the Vermillion Federal Credit Union membership.
The merger would combine Vermillion FCU’s 2,800 members with Voyage FCU’s 17,000 members and will result in an organization with combined assets of over $200 million.
Voyage FCU is based in Sioux Falls, SD serving members in Minnehaha and Lincoln Counties. The merger with Vermillion FCU is part of a larger expansion that opens membership opportunities to include 25 total counties in South Dakota, Iowa, Minnesota, and Nebraska.
Currently, Voyage FCU serves its members from three branches in Sioux Falls. Vermillion FCU has one branch in Vermillion, SD which would remain open as Voyage FCU. With the merger, Vermillion FCU members will have the ability to utilize their credit union as a full-service financial partner, including multiple expanded services such as business checking, business loans, Money Market accounts and IRA’s.
The proposed merger will require regulatory approval from the National Credit Union Administration (NCUA), as well as Vermillion Federal Credit Union members. The anticipated effective date would be the summer of 2023. Until the completion date, both organizations will continue with no change to the exceptional way they serve their membership.
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