Trinity Credit Union of Trinidad and Power Credit Union of Pueblo have merged.
The accounts of the new Power Credit Union members remain federally insured by the National Credit Union Share Insurance Fund up to $250,000 and the new Power Credit Union members should not experience interruption in services.
The Colorado Division of Financial Services had placed Trinity Credit Union into conservatorship July 27 and appointed the National Credit Union Administration as conservator. However, the merger occurred without assistance from the National Credit Union Share Insurance Fund.
Power Credit Union is a state-chartered, federally insured community credit union, opened in 1938. Before the merger, Power Credit Union had $82.2 million in assets and nearly 11,400 members. As part of the merger, Power Credit Union will maintain a branch in Trinidad.
Trinity Credit Union had nearly 1,200 members and approximately $4.1 million in assets at the time of the merger. Chartered in 1939, Trinity Credit Union served the residents of Las Animas County.