Wheels in motion for Wesley Medical Credit Union to merge with Mid American

Editor's note: An earlier version contained an incorrect figure for Mid American's assets.

Wesley Medical Credit Union could soon merge with Mid American Credit Union, according to the latter organization’s president and CEO.

Jim Holt said Tuesday that a member vote on the potential merger is scheduled for Jan. 21, though Wesley Medical Credit Union members would also need to approve the measure.

“Announcements have gone out to both memberships saying we have talked and feel like this is a good opportunity for both credit unions,” Holt said.

“For us, we would get an additional location in a part of town where we don’t have much coverage. Also, with the addition of the VA Credit Union last year, we’ve opened up our membership to the medical community.”

In 2014, Mid American announced it was in talks to acquire the Veterans Administration Credit Union, a move that Holt said led to an eventual inquiry from Wesley Medical.

“They kind of approached us after the VA merger,” Holt said. “We visited and talked about it for a while, similar to a dating situation. You look at each other and try to figure out what interests are the same, and if there are any showstoppers.”

A special member meeting for the vote will take place at 12:30 p.m. Jan. 21 at Mid American’s branch location at 8404 W. Kellogg Drive in Wichita.

Mid American has about 35,000 members, and more than $260 million in assets and 10 locations in Kansas. Wesley Medical Credit Union has 1,000 members and $5.6 million in assets, according to a release on the Mid American website.

The Wesley medical branch was formed in 1958 to serve employees of what is now Wesley Medical Center. A Wesley Medical Credit Union representative on Tuesday directed questions to Mid American’s leadership.

“This is a great opportunity to provide the members of Wesley Medical Credit Union with access to our mobile services, network of branches and ATMs, and to help a solid, small credit union survive,” Holt said.

Plans are for all Wesley Medical Credit Union employees to be retained, according to the release. Mid American currently has five Wichita locations, which would grow to six with the possible acquisition of the Wesley Medical branch at 551 N. Hillside.

This story was originally published January 12, 2016 at 6:42 PM with the headline "Wheels in motion for Wesley Medical Credit Union to merge with Mid American."