Spire Credit Union merging with Minnesota neighbor

Spire Credit Union in Falcon Heights, Minnesota, is merging with HBI Employees Credit Union in St. Paul.

The $1.9 billion-asset Spire says its deal to combine with the $9.5 million-asset HBICU was approved by 96.4% of its members and is expected to become effective on April 1.

Last year, Spire combined with two other Minnesota credit unions through mergers with the $11.4 million-asset Midland Co-op Credit Union in Minneapolis and the $4.2 million-asset Central Hanna Employees Credit Union in Keewatin, Minnesota.

“The board of directors, management and staff unanimously agreed that Spire Credit Union was the future for our members … [Spire CEO] Dan Stoltz cares about the credit union movement, the members, the employees and the community,” Karen M. Fleming, president and CEO of HBICU, said in a press release Thursday.