The financial landscape in Northern Illinois is evolving as NuMark Credit Union and Pioneer State Bank have officially merged, effective April 1, 2023. This union signifies a significant expansion for NuMark Credit Union, enhancing its service capabilities and community reach while integrating the valued legacy of Pioneer State Bank.
Pioneer State Bank and NuMark Credit Union Logos Merger Announcement
With the merger now complete, NuMark Credit Union boasts over $750 million in assets and a membership base exceeding 60,000 individuals. This growth is underpinned by a robust network of thirteen branch locations across Northern Illinois, now including former Pioneer State Bank branches in Earlville, Paw Paw, and Sublette. The integration of Pioneer State Bank aligns with NuMark Credit Union’s commitment to providing comprehensive financial solutions and exceptional member service.
“We are excited to welcome Pioneer State Bank customers to NuMark Credit Union,” stated Lloyd M. Fredendall, President & CEO of NuMark Credit Union. “This merger allows us to extend the benefits of credit union membership to a wider audience. We are dedicated to offering our new members the full spectrum of our financial products and services, ensuring they gain greater value and control over their financial well-being.”
Credit unions, like NuMark, are known for prioritizing member financial health by offering competitive loan rates, higher deposit yields, and reduced fees compared to traditional banks. This member-centric approach has been recognized by the Credit Union National Association (CUNA), which awarded NuMark Credit Union a Certificate of Excellence. CUNA’s analysis revealed that NuMark Credit Union delivered over $7.2 million in direct financial benefits to its members in the year leading up to September 2022, equating to approximately $269 per member household. This exemplifies the tangible advantages that former Pioneer State Bank customers can now expect.
The teams at NuMark Credit Union are diligently working to integrate the accounts of Pioneer State Bank members into their unified core system. This seamless transition, expected to be finalized later this summer, will grant all members access to an expanded branch network, including the former Pioneer State Bank locations. This ensures continuity of service and greater convenience for all members as they navigate their financial needs.
NuMark Credit Union operates as a not-for-profit financial cooperative, federally insured by NCUA, ensuring all accounts are insured up to at least $250,000. Serving communities across Northern Illinois and Northwest Indiana for nearly 70 years, NuMark Credit Union offers a wide array of services, from auto and home loans to checking accounts and business services. Former Pioneer State Bank customers are encouraged to explore the enhanced financial opportunities now available through NuMark Credit Union by visiting numarkcu.org or calling (815) 729-3211 for further information. This merger represents a positive step forward, strengthening community banking and providing enhanced financial services to members of both NuMark Credit Union and the former Pioneer State Bank.
