Citizens Equity First Credit Union (CEFCU) has completed its purchase of four Illinois branches from Simmons Bank, effective March 15. The branch offices are located in Columbia, Edwardsville, Godfrey and O’Fallon, Illinois.
CEFCU’s total assets as of the end of January 2021 were more than $7 billion. The purchase increases CEFCU’s assets by just over $150 million and brings its total number of member centers to 31.
“The completion of the purchase strengthens our ability to serve all CEFCU member/owners and we look forward to providing these new members and communities with quality financial products and services,” said Mark Spenny, CEO and president.
The planned acquisition was initially announced in December, pending approval of state and federal regulatory agencies.