Neighborhood Credit Union and Dallas Federal Credit Union Finalize Merger
DALLAS, Texas – Neighborhood Credit Union and Dallas Federal Credit Union announced today that the merger between their two credit unions has been finalized as of September 1, 2018. Systems and operational integration will be completed in February of 2019. The merger has been approved by the National Credit Union Administration (NCUA) and the Texas Credit Union Department.
Chet Kimmell, President/CEO of Neighborhood Credit Union, will continue to lead the combined organization. A former certified public accountant and current member of the NACHA board, Kimmell has been CEO of Neighborhood Credit Union since 1994 overseeing growth from $100 million to over $700 million in assets.
"This partnership allows us to further solidify our commitment to the neighborhoods we serve and provide more access than ever to our innovative products and services---all designed with the financial well-being of the community in mind," Kimmell said.
As a result of this merger, Neighborhood Credit Union will have fourteen locations throughout Dallas Fort-Worth (DFW) including Dallas, Ellis, Tarrant and Denton counties, as well as the opportunity to welcome members from all over the metroplex through their robust mobile offerings.
"The merging of our two deep-rooted credit unions will allow for growth and advancement in the near future," Kimmell added. "Dee Pennington[CEO of Dallas Federal Credit Union], Joey Bishop [Chairman of the Board at Dallas Federal Credit Union] and Dwayne Boozer [Chairman of the Board at Neighborhood Credit Union] were all instrumental in bringing this partnership together, and we are grateful for all of their hard work."
Both Dallas-based credit unions have a long history of service in DFW. Neighborhood Credit Union, chartered in 1930 as Dallas Postal Employees Credit Union, is the oldest credit union in Dallas. As the original name suggests, the credit union was formed to serve Dallas postal workers and their families. Dallas Federal Credit Union was chartered in 1948 as Dallas Region Centennial Federal Credit Union and later changed its name to Dallas Federal Credit Union in 2002 serving the downtown Dallas community.