Golden Eagle Community Bank has announced that its customers will soon be member-owners of Advia Credit Union, as part of Advia’s continued growth in northern Illinois and southern Wisconsin.
The intended acquisition of GECB by Advia Credit Union in early 2019 will bring additional opportunities to businesses and individuals in Illinois, the bank said.
GECB, headquartered in Woodstock, has two additional branches in Crystal Lake and Cary.
The acquisition will provide a combined 13 locations in northern Illinois and southern Wisconsin as well as 19 locations in Michigan.
“Advia is a strong financial institution, and we believe our employees, shareholders and the community will all benefit from the proposed transaction,” said Steven Finzel, president, CEO and CFO of GECB. “In addition to their size and resources, Advia has the proven ability to provide competitive and innovative products to our consumer and commercial clients – with focus on their overall financial well-being.”
“We are thrilled to have the opportunity to welcome the customers of Golden Eagle Community Bank as members of Advia Credit Union,” said Cheryl DeBoer, Advia’s president and CEO.
“At Advia, our mission is to provide financial advantages to those we serve. We are growing our commercial-focused financial solutions, strengthening our local position in northern Illinois, and have a well-rooted commitment to community involvement and volunteerism, similar to GECB,” DeBoer said.
With this growth, Advia will serve more than 160,000 members with 32 branches in Illinois, Michigan and Wisconsin.
In addition to new branch locations, Advia participates in shared branch networks nationally and provides over 30,000 fee-free ATM locations through its co-op network and additional select retail outlets.
“As a member-owned, not-for-profit financial cooperative, we are focused on building long-lasting, rewarding relationships with our members, helping them save more and enjoy easy access to financial services,” DeBoer said. “We’re able to contribute to our communities and give back to our member-owners in the form of better technology, innovative services and excellent deposit and loan rates. We strive to serve our members holistically with convenient digital services; a competitive mix of great savings options, 3 percent checking, low-rate loans; and a variety of mortgage options, all while keeping people at the core of everything we do.”
The transaction, which is subject to regulatory and shareholder approval, is expected to be completed in the second quarter of 2019.
Golden Eagle Community Bank was founded in 2007 and has approximately $155 million in assets, 32 employees and three locations. For information, visit www.bankgoldeneagle.com.
Advia Credit Union’s mission is to provide financial advantages to its members. Advia has over $1.7 billion in assets, and nearly 600 employees at 29 locations. For information, visit www.adviacu.org.