ST. LOUIS, Mo, Jan. 08, 2025 (GLOBE NEWSWIRE) — On January 1, CommunityAmerica Credit Union, Missouri’s largest credit union*, accelerated its expansion in the St. Louis region by merging Electro Savings Credit Union into their organization. The merger will add more locations across the St. Louis metro, improving access for members of both credit unions, as well as making it convenient for St. Louisans to experience CommunityAmerica’s unique commitment to delivering financial peace of mind.
“Electro Savings shares our passion for people and supporting the financial well-being of St. Louisans – and they are well-aligned with our plans to meaningfully invest in the communities that make up this region,” said Lisa Ginter, CEO of CommunityAmerica Credit Union. “Combining the strengths and market presence of our two organizations helps us get even more people and businesses on a path to thrive and achieve financial peace of mind.”
Once the merger is fully complete later this spring, the expanded credit union, operating as CommunityAmerica and led by CEO Lisa Ginter, will serve members in at least eight locations across the metro. CommunityAmerica was already set to open a new branch in Hazelwood in early February, as well as its new flagship location in Des Peres this fall. Additional locations are also actively under consideration, with a plan to serve a broad area of the St. Louis metro.
The merger also allows the credit union to offer its most unique member benefit, Profit Payout, to even more St. Louisans. Every year, CommunityAmerica shares its profits by rewarding members for their banking relationship with them. The credit union has returned more than $100 million to members through this program, with its next Profit Payout scheduled for January 14. Profit Payout is one of many ways the credit union invests in its members and will be a key differentiator among other banking choices in St. Louis.
“Over the last few months, we’ve evaluated numerous opportunities to better serve our members, and there’s no stronger partner than CommunityAmerica to help our members achieve their financial goals, now and in the future,” said Dave Meglio, chairman of the board of directors for Electro Savings Credit Union. “CommunityAmerica brings more than 80 years of proven strength and stability, in addition to cutting-edge financial products and services that are geared toward our members’ satisfaction and financial well-being. We are thrilled to be able to improve the experience our members have with us through this merger.”
This announcement underscores the commitment CommunityAmerica is making to build on its 30-plus-year legacy of serving St. Louis. In August 2024, CommunityAmerica named Federal Reserve Bank of St. Louis veteran Kathy O’Neill to lead its St. Louis operations, including ongoing market expansion, as well as civic and community endeavors. The credit union also opened a new location in Richmond Heights in April 2024. CommunityAmerica first announced its growth plans in 2023, with a unique St. Louis Cardinals partnership as an official banking partner and the first-ever exclusive naming rights partner for the Cardinals Club. They have also added shortstop Masyn Winn to their partnership roster, further demonstrating their shared enthusiasm for Cardinals baseball.
ABOUT COMMUNITYAMERICA CREDIT UNION
CommunityAmerica Credit Union is a full-service financial institution with more than 320,000 member-owners nationwide and nearly $5 billion in assets, ranking it among the nation’s 100 largest credit unions and the largest in Missouri. The credit union serves individuals and businesses, providing a full suite of financial products and services ranging from checking and savings to mortgages, a variety of loan products and commercial banking. CommunityAmerica also offers wealth management, retirement planning, private banking and insurance. As a not-for-profit credit union, CommunityAmerica offers highly competitive rates on deposits and loans with fewer, lower or no fees at all. Other convenient products and services include a co-op network of more than 30,000 ATMs, 24-hour online banking and a top-rated mobile banking app. Ranked as the Best Credit Union in Missouri by Forbes Magazine.
*based on asset size as of 12/31/2024
ABOUT ELECTRO SAVINGS CREDIT UNION
Founded April 23, 1941, by the employees of Union Electric Company as Electro Credit Union, Electro Savings Credit Union today has $198 million in assets and 18,000 members served by 60 employees. Electro Savings has four metro St. Louis area branches in Maryland Heights, Manchester, South County and St. Peters.
CONTACT: Susan Johnson CommunityAmerica Credit Union (913)905-7769 srjohnson@cacu.com
- Willis Lease Finance Corporation Completes Sale of Consultancy and Advisory Arm to Joint Venture with Mitsui & Co. - June 30, 2025
- Western Forest Products Inc. Announces Fire Damages Columbia Vista Division Sawmill - June 30, 2025
- East West Kung Fu Studios Honors the Life and Legacy of Senior Grandmaster Richard Lee (1942–2025) - June 30, 2025
