RIA Federal Credit Union officials announced a major milestone for the business on Friday, May 1, with a merger deal with Redbrand Credit Union, which is based in Bartonville, Illinois.
Members of Redbrand approved the merger during a recent vote held at the Redbrand Credit Union Bartonville office. The merger became legally effective Friday. Systems will convert in early 2027 as the organizations fully integrate operations.
RIA Federal Credit Union will remain the surviving legal entity.
“For RIA members, your accounts and everyday banking experience remain the same, no changes. You’ll gain access to an expanded network of branches and services, including new locations in Bartonville and Pekin, Illinois, coming in early 2027. We’re excited to welcome Redbrand members and grow together as one stronger credit union,” according to an announcement on the RIA Credit Union Facebook page.
In announcing the merger, RIA Federal Credit Union officials said they received regulatory approval from the Illinois Department of Financial and Professional Regulation (IDFPR) and the National Credit Union Administration (NCUA) to merge with Redbrand Credit Union, according to a news release.
“This is an exciting milestone for both organizations,” said Jim Watts, president and CEO of RIA Federal Credit Union, in the news release. “For over 90 years, R.I.A. has focused on trusted service, local decision-making, and community commitment. This merger strengthens our ability to serve members for the long term while keeping the people and relationships they value.”
RIA Credit Union opened nine decades ago as the credit union for police and firefighters of the Rock Island Arsenal. A year later, it expanded to service all Arsenal employees. Since then, RIA has grown to serve people throughout the Quad-Cities, the Midwest, and worldwide.
The RIA Federal Credit Union has 11 branch sites, and about 135 employees.
With about $675 million in assets, RIA Federal Credit Union serves the QC region, plus Wilton, Iowa; Savanna, Illinois; the Tomah, Wisconsin, area; and active military installations including Rock Island Arsenal and Fort McCoy, Wisconsin.
Redbrand Credit Union is a not-for-profit financial institution. It was formed by employees of Keystone Steel & Wire to provide financial services to steelworkers. Chartered in 1952 from its first location in an office at Keystone Steel & Wire with membership only open to Keystone employees. In 1986, Peoria County School’s CU merged with Redbrand. This opened up membership to any employee of a Peoria County School. Then, in 1999, Cerelose Credit Union in Pekin merged into Redbrand Credit Union, opening up membership to those in Pekin, South Pekin, North Pekin and Marquette Heights. In 2023, the charter was updated to include all of Tazewell County. In addition to many electronic services, Redbrand has one location in Bartonville and another in Pekin.
