Friday, February 6, 2015

Beacon Credit Union Acquiring Midwest AG Finance

Credit Union Journal is reporting that privately-insured Beacon Credit Union (Wabash, Indiana) is acquiring Midwest AG Finance, an industrial loan and investment company based in Rushville, Ind..

The announcement comes following votes by both institutions' boards to move forward with the proposal.

The transaction, which remains subject to final approval by the Indiana Department of Financial Institutions, includes the purchase of assets and assumption of liabilities. Because Beacon is a privately insured state charter, NCUA approval is not required.

Terms of the deal were not disclosed.

Read the story (subscription required).

Here is another article on the transaction.

1 comment:

  1. It is not uncommon for corporations both large and small to expand their businesses by acquiring other companies. This is also seen in the finance industry whereby such an initiative is often done to increase the organisation’s pool of customers.



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