Premier Credit Union Joins Hands with Consumers Credit Union

Waukegan, IL, September 14, 2015: With the agreement of both Boards of Directors and Members of Premier Credit Union (Premier, $182 M. Palatine, IL), Premier has agreed to merge with Consumers Credit Union (CCU, $687 M. Waukegan, IL). As a result Consumers Credit Union will be over $869 M. with nine (9) Service Centers spanning from northern Cook County to the Wisconsin border in Lake County.

"On behalf of Premier Credit Union's Board of Directors, we are pleased to be able to offer our Members the combined strength of two very sound credit unions," shared Leslee Johnson, Premier Credit Union's Board Chairperson. "Joining together as one, will provide improved loan and dividend rates plus scalability for enhanced product and service development."

"We are thrilled to be joining Consumers CU," says James Roche, Premier's and CEO. "There is no doubt that both our credit unions complement one another, we're very excited to be taking this next step alongside CCU."

The merger of CCU and Premier was agreed upon in principle and delivered to the Illinois Department of Financial and Professional Regulation (IDFPR) and National Credit Union Administration (NCUA), the regulator and insurer, respectively, for both Premier and Consumers. The merger was formally approved by the Members of Premier on August 20th.

The merger will become official on November 1st; however, the two credit unions will run their respective operations as-is until February 1, 2016. This provides time to update and convert, products, services, technology and people into the combined organization.

"On behalf of our Board of Directors at Consumers Credit Union, we are incredibly excited for the opportunity to partner with Premier Credit Union." noted Sean Rathjen, Consumers Credit Union President and CEO. Rathjen continues…"For more than 50 years, Premier Credit Union has provided outstanding service to their Members, and we look forward to building upon that same tradition."

CCU gains 3 additional Service Centers as a result of the merger with Premier including offices in Northbrook, Palatine and Schaumburg. These new Service Centers will join the already established 6 CCU locations in Waukegan, North Waukegan, Gurnee, Mundelein, Volo and Round Lake Beach.

For more information concerning the merger between Consumers Credit Union and Premier Credit Union, please contact either Sean Rathjen at (847) 782-4670 or James Roche at (847) 843-6500.

Premier Credit Union is Member-owned with office locations in Northbrook, Palatine and Schaumburg. More information about Premier can be found online at www.mycu.org. CCU is Member-owned with offices locations in Waukegan, Mundelein, Round Lake Beach, Gurnee, North Waukegan and Volo, Illinois . . . and online at www.myconsumers.org.