NW Iowa Credit Union Members Turn Thumbs Down On Proposed Merger

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(Le Mars) — During the past couple of months members of the Northwest Iowa Credit Union based in Le Mars had the opportunity to vote on a proposed merger with the Siouxland Federal Credit Union headquartered in Sioux City.
Steve DeBoer is the Chief Executive Officer of the Northwest Iowa Credit Union and says the Siouxland Federal Credit Union approached the Le Mars based financial institution in hopes to broaden its market.

DeBoer says the membership of the Northwest Iowa Credit Union voted in a decisive manner to remain independent and forego the proposed merger with the Siouxland Federal Credit Union.

DeBoer says since the membership voted overwhelming to remain as an independent credit union, he doesn’t see any additional attempts to having the merger proposed in the future. DeBoer says both financial institutions are doing well, and there was no reason for concern about either credit union having any financial problems.

The Northwest Iowa Credit Union official says he was pleased with the voter turnout by the membership with regards to the proposed merger.

DeBoer says the Le Mars-based credit union will now be conducting business as usual.