Westbrook-based Infinity FCU inks merger with Illinois credit union

Infinity Federal Credit Union, which last fall announced it would merge with Illinois-based Deere Employees Credit Union, has completed the deal.
No terms were disclosed. Members of both credit unions approved the merger, according to separate news releases this week.
There will be no staff reductions in staff as a result of the merger, the releases said, and both financial cooperatives will retain their existing brands.
To accommodate the merger, however, Infinity said it has transitioned to a state-chartered credit union and removed “Federal” from its name. Infinity President and CEO Elizabeth Hayes told Mainebiz Friday this was a technical change required under financial regulations because DECU is a state-chartered institution.

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