Rockford Bell, Consumers credit unions to merge

Rockford Bell Credit Union and Consumers Credit Union, both based in Illinois, plan to merge later this year, subject to regulatory and member approvals.

The companies will continue to operate as Consumers Credit Union. Following the merger Consumers will remain the fifth largest credit union in Illinois, with 25 branch locations and over 260,000 members, according to a press release.

"It's a win-win for all," John Hansen, president and CEO of Rockford Bell Credit Union, said in the release. "The board of directors and I are very excited about what this merger will bring. Additional services and products to Rockford Bell Credit Union's members and enhanced employee benefits for the staff."

Sean Rathjen, CEO of Consumers Credit Union, said the merger will provide additional benefits for members, employees and communities.

"We're thrilled to welcome the members and employees of RBCU to Consumers Credit Union," Rathjen said in the release. "We look forward to providing RBCU members with even greater convenience and a broader range of banking products and services, while offering new opportunities for employees."