White Earth Credit Union to Merge with Affinity Plus
Bringing a stronger banking experience for the Mahnomen area and White Earth Tribal members
ST. PAUL, MN. (Feb. 10, 2022) – Affinity Plus Federal Credit Union’s (Affinity Plus) and White Earth Reservation Federal Credit Union’s (WERFCU) merger application has been approved by federal regulators.
Following an all-member vote on March 21 by WERFCU members to ratify, the merger should be official on April 1. Last spring the boards of directors of each organization approved an agreement to bring WERFCU’s single location in Mahnomen and 1,400 members into the Affinity Plus network – making it Affinity Plus’s 30th branch across Minnesota.
“Affinity Plus is excited to add White Earth Reservation Federal Credit Union to improve the banking experience, financial health, and access to resources for members of both credit unions.” said Dave Larson, President and CEO of Affinity Plus. “It is a great fit because they share our values of financial inclusion and local support for people of all financial needs.”
WERFCU has served the White Earth Nation for more than 56 years, yet its size and earnings have limited how extensively it can serve members. This merger will provide northern Minnesotans a stronger banking connection with more meaningful self-service and consultative resources for every stage of life:
- Expanding access to mortgages and other financial products and services currently not available
- Offering more attractive rates for most products
- Overcoming access issues with a top-rated mobile and digital banking experience
- Maintaining local service, ownership and control – supporting and working through the current staff, with support from Affinity Plus branches in Bemidji and Moorhead.
“And because of the location’s limited footprint, we’re working with local community members to bring a new and expanded branch to the community later this year,” said Larson.
NCUA, the independent federal agency that regulates, charters and supervises federal credit unions, has encouraged and supported this merger because of the unique challenges of the area, which is designated as underserved for financial services.
Based in St. Paul, Minn., Affinity Plus Federal Credit Union is a not-for-profit, financial cooperative that puts people first above profits. Members of Affinity Plus receive maximum value through competitive rates, minimal fees, and unique, member-centric products and programs. Established in 1930, Affinity Plus has 30 branches located throughout Minnesota and is owned by more than 250,000 members. Affinity Plus has more than $4 billion in assets. Additional information is available at www.affinityplus.org or by calling (800) 322-7228.
