Meritrust Members have voted in favor of the merger with Premier Members Credit Union
Meritrust Credit Union members in Wichita, KS, have voted in favor of the proposed merger with Premier Members Credit Union.
This marks a new chapter for both institutions, poised to enhance value to both memberships and expand our reach within communities. The merger between Meritrust and PMCU will be effective on August 1, 2025. The combined credit union will proudly serve over 200,000 members with 33 branch locations across communities in Kansas and Colorado, totaling 650 employees and nearly $4 billion in assets.
Meritrust CEO James Nastars expressed gratitude for the members’ support, stating, “I am grateful our members see this merger as an opportunity to bring together the best of both credit unions which will ultimately provide greater value and opportunities for them, ensuring their financial well-being remains our top priority.”
Premier Members CEO, Carlos Pacheco, echoed the same sentiments, “United, we are better equipped to serve our members’ rapidly evolving needs with greater innovation and efficiency. We remain committed to upholding the values our members appreciate and look forward to the opportunities this merger will create.”
Both Meritrust and PMCU boards voted in favor of Meritrust adopting the Colorado state credit union charter, moving away from its federal charter. The change in charter also means the credit union’s official headquarters will be reported as Broomfield, Colorado, as headquarter designations follow the charter. The boards also agreed to keep the credit union name Meritrust Credit Union. In the interim, Premier Members Credit Union will operate as a division of Meritrust Credit Union, meaning legacy PMCU members will continue to bank as they normally do, accessing services and loan opportunities through existing digital platforms, ATM networks and branch locations.
We are committed to making this journey as smooth as possible and keeping you updated at every step in the integration process. This page is dedicated to the merger and what it means for you. You can revisit this page over the next few months to find more information about the merger and integration process.
Thank you for trusting PMCU as your financial partner.
About the Merger
There is power in uniting. We are thrilled to announce Premier Members Credit Union and Meritrust Credit Union in Wichita, Kansas, have agreed to form a new, stronger credit union. This merger represents the uniting of two healthy credit unions for the benefit of the members, employees and communities we serve.
United, we will build on our strength and innovation to better meet the evolving needs of our members.
United, we will leverage a larger pool of resources, talents and skills to compete in the fast-moving technology and financial markets.
United, we will provide even greater value to our members and communities than we could as separate organizations.
United, we will proudly serve over 200,000 members with 33 branch locations across diverse communities in Colorado and Kansas, with 650 employees and nearly $4 billion in assets.
How This Merger Benefits You
Uniting for you.
By combining our resources, talents and services you will have access to:
A wider range of products and services to better serve your financial needs.
Expanded digital banking tools to simplify your everyday banking.
More comprehensive financial education resources, including digital financial management tools and gamification.
More people dedicated to serve you no matter where you are in your financial journey.
Uniting for our communities.
With our partnership, we will make an even bigger impact in communities through philanthropic efforts. Together, we are committed to investing $3 million annually to improve the lives of our members and the communities we serve. This investment benefits you and your families for generations to come.
Uniting for our future.
By combining our strong and well-capitalized credit unions, we are taking steps to ensure we will continue to serve future generations of members. Diversifying our memberships across two states builds on our strength.
Frequently Asked Questions
Why did we merge?
The primary reason for this strategic and collaborative merger is to leverage a larger pool of resources to provide even greater value to our employees, our members and our communities than we could as separate organizations. We want to build a regional credit union leader that can continue to offer the best service, products and technologies to our members.
MCU and PMCU boards were seeking a partner that matched each organization’s core values, passion, financial strength, dedication and loyalty to employees, members and the communities each served. In addition, both boards, CEOs and leadership teams maintain a common vision for the future of the combined credit union going forward.
Meritrust Credit Union. In 1935, seven pioneers from Stearman Aircraft Company in Wichita, Kansas, organized and chartered a credit union for its employees. From there, membership grew to include employees of Boeing, their suppliers and, in time, Spirit AeroSystems. In nine decades, we’ve expanded our mission, our team, and our membership. With a legacy rooted in aviation, Meritrust proudly serves over 118,000 members within the Wichita, Manhattan and Lawrence communities and throughout the Midwest. Meritrust assets exceed $1.9 billion and serves our members with 14 branches and over 350 employees. As a member owned cooperative, Meritrust serves a broader purpose that emphasizes the financial health and wellbeing of its employees and members.
Premier Members Credit Union. In 2015, Premier Members Credit Union and Boulder Valley Credit Union joined forces in a “merger of equals” to form a new credit union under the Premier Members Credit Union brand. Headquartered in Broomfield, Colorado, with assets exceeding $1.7 billion, 19 branches and nearly 300 employees, they put their 78,000 members first. Premier Members Credit Union provides modern technology with unmatched service while keeping a strong focus on uplifting communities.
Who leads the new combined credit union?
Carlos Pacheco, CEO/President of PMCU, and James Nastars, CEO/President of MCU lead the combined organization.
Meet Carlos Pacheco. Carlos Pacheco has served as CEO/President of PMCU since January 2011. He brings more than 35 years of financial services experience, serving in a variety of leadership roles in both for-profit and not-for-profits financial sectors. Prior professional experience includes technology, operations, project management, retail banking leadership and executive roles for Bank of America, First National Bank of San Diego, and Desert Financial Credit Union (formerly Desert Schools Federal Credit Union). Pacheco also remains active in the community, serving on the boards of the Better Business Bureau of the Great West & Pacific, Mile High United Way, Impact on Education Boulder, as well as the Board of Directors of Alloya Corporate Federal Credit Union. Pacheco also dedicates his time and talent to Junior Achievement USA Programs. He holds a bachelor’s degree in business administration from the University of Phoenix.
Meet James Nastars. James Nastars has been with Meritrust since 2013 and in the credit union and banking industries for more than 35 years. He earned his Bachelor of Business Administration in Finance and his MBA from the University of Texas at Austin. Within the Wichita community, he serves on the boards of Kansas Big Brothers/Big Sisters, the Wichita Foundation, the Greater Wichita Partnership’s Executive Advisory Board, WSU Barton School of Business Dean’s Advisory Board, K-State Institute of Personal Financial Planning Advisory Board and the National Advisory Council of the WSU Foundation and Alumni Engagement. Within the credit union industry, Nastars serves on the Board of CU NextGen Technologies, and MEMBERS Development Corporation (MDC).
Will PMCU and MCU have representation on the new credit union board?
Yes. The combined 14-member board is represented by 7 members from PMCU and 7 members from MCU.
How is the new credit union chartered?
After thoroughly weighing the benefits of each charter, the PMCU and MCU Boards voted in favor of maintaining the Colorado state charter for the new credit union. The main reason for choosing the Colorado state charter was the flexibility for growing membership and the ease of expanding into other areas.
What is the new credit union called?
The legal name of the new credit union will be Meritrust Credit Union.
Both credit unions will keep their existing brands since there is no overlap in our existing markets and both brands have a strong presence in their respective markets.
We will continue to own and operate both brands — Meritrust in Kansas and Premier Members in Colorado. Each brand will strongly support the overall mission and purpose of the united credit union, but this will allow us to tailor messaging to the specific market segments in each area.
Where is the new credit union headquartered?
Because the new credit union operates under the Colorado state charter, the headquarters is in Colorado. The current PMCU headquarters in Broomfield, Colorado, will be considered the corporate headquarters of the united organization for reporting purposes. Each current headquarters are referred to as the Colorado Administration Offices and the Kansas Administration Offices. Expect the same level of local service and decisions that have always set us apart.
Will any of your branches close?
No, none of our existing branches will close as a result of the merger.
Does your commitment to community change?
Both credit unions are committed to supporting our communities in both Colorado and Kansas and will continue to support members across our field of membership.
Will the merger impact the safety of my accounts?
While the merger may result in changes to product offerings or operational procedures, the fundamental protections for member accounts will remain intact throughout the transition. We continue to be federally insured by the NCUA.
Will my account and current rates be impacted by the merger?
No. The rates on fixed rate loans and certificates would remain the same until the end of their existing terms. Other products would adjust as normal due to market conditions.
Will there be changes to your products and services?
All members will have access to a wider range of financial products and services after the merger. Combining product suites allows us to offer more products and services members find valuable.
Will my accounts continue to be federally insured?
Yes. Member deposits will continue to be federally insured by the National Credit Union Share Insurance Fund (NCUSIF). Information regarding NCUA insurance and a calculator to help determine your coverage is available at www.mycreditunion.gov/estimator
Will the merger impact the service I receive?
Member service will not immediately experience any impacts since full system integration will not occur for several months. Our goal is to continue to deliver an exceptional member experience through the entire transition and keep members informed in advance of any changes to our products and services. Certain system conversions will have a short-term impact on member service, but we will work hard to minimize those disruptions.
Will any employees lose their job because of the merger?
No employees will lose their job because of the merger.
Contact
We are committed to making this journey as smooth as possible and keeping you updated at every important step in this process. If you have any questions about the merger, please do not hesitate to contact us at merger@pmcu.org.