NASHVILLE, Tenn. and LOUISVILLE, Ky. (12/6/13)--Volunteer Corporate CU (VolCorp) and Kentucky Corporate FCU (Kentucky Corporate) have announced plans to merge.
VolCorp, based in Nashville, Tenn., will be the surviving entity and will maintain a presence in Kentucky with operations and staff at Kentucky Corporate's current base in Louisville, Ky.
"VolCorp is financially strong, enjoys strong member support, and is located close to Kentucky Corporate's current location in Louisville," said Kentucky Corporate Board Chairman Alan Butler. "We believe this merger will provide our members with a broad range of services to help them provide value-added services to their members."
The merger must be approved by members and regulators.
VolCorp President/CEO Rich Veach cited the benefits the merger would create for members of both corporate credit unions. "Moving forward, this merger will allow us to broaden our product offering and provide us the ability to continue paying a premium dividend on the capital investment in VolCorp," he added.