YOUR BUSINESS AUTHORITY

Springfield, MO

Log in Subscribe

TelComm takes over Springfield Catholic

Posted online

TelComm Credit Union yesterday took over operations of Springfield Catholic Credit Union.

TelComm Vice President of Marketing and Business Development Lori Johnson Murawski declined to disclose whether money changed hands in the merger deal that closed July 1.

“Their board elected to merge into our organization because we were able to offer quite a few more products and services than what their organization was able to offer, since they were a little bit smaller,” she said.

With the merger, Springfield Catholic’s 1029 S. Campbell Ave. branch closed to the public June 29 and will be available for purchase in the coming months. Murawski said Springfield Catholic President Steve San Paolo and another employee will continue to work at the South Campbell office during the transition process, and it has not been determined whether they will move to a TelComm branch once that process is complete.

Through the deal, TelComm gains access to Springfield Catholic’s members who are parishioners of Catholic churches in 19 counties. TelComm previously just offered memberships to those who lived and worked in Greene and four other counties, according to a news release.

Murawski said as of May 31, Springfield Catholic had 1,140 members and $3.8 million in assets. TelComm ranked third on Springfield Business Journal’s list of the area’s largest credit unions, published in April. The company reported $152.1 million in assets and 17,595 members. Springfield Catholic did not respond to SBJ’s survey requests for the list.

TelComm, according to the release, sent letters announcing the merger to Springfield Catholic members in April.

“We’re very pleased to take this next step with TelComm Credit Union,” San Paolo said in the release. “We have been blessed to serve people of the Catholic faith for 63 years. With TelComm’s resources, our members now have access to the same amenities offered by other financial institutions, such as debit cards, credit cards, IRAs and ATMs.”

Comments

No comments on this story |
Please log in to add your comment
Editors' Pick

SBJ announces Health Care Champions

This year's two Top Doctors and winners in four other categories are revealed.

Most Read