The Municipal Federal Credit Union and Premier Credit Union Announce Proposed Merger

January 19, 2024

Des Moines, IA January, 19, 2024 — The Municipal Federal Credit Union (Sioux City IA) and Premier Credit Union (Des Moines IA) are excited to announce their proposed merger has received regulatory approval and will be finalized pending a final vote of the TMFCU membership. If approved, the legal date of the merger for the two organizations is planned for May 1, 2024.

Both organizations are thrilled for the proposed merger and the benefits that the membership and staff will see. “We believe that this proposed merger will give the members of The Municipal Federal Credit Union access to more competitive products and services,” states Megan Tjernagel, CEO of Premier Credit Union. “Additionally, we feel that the staff will benefit from joining the Premier family and having access to additional support and employee benefits.”

While the proposed merger is a new development, TMFCU and Premier have shared a longstanding partnership together for over a decade through Premier’s wholly owned subsidiary mortgage CUSO, Premier Lending Alliance. “Premier has always been a friend to our credit union,” said Mikkie Kimsey, President and CEO of The Municipal Federal Credit Union. “I have had the pleasure of working with Megan and the team during my entire career with TMFCU. Our two institutions have many similarities. I am excited for the opportunity for us to merge and become stronger together.”

If approved by the membership, the existing TMFCU branch office will operate under the name Premier Credit Union, with its membership counties joining the current 26 counties that Premier serves in Central Iowa via their community charter. In the coming weeks, both credit unions will host joint informational sessions to address any questions or concerns members may have about the merger.

Premier Credit Union History
Premier Credit Union began as Bankers Life Employees Credit Union in 1933. In 1986, when Bankers Life Company changed its name to Principal Financial Group, the credit union subsequently changed its name to Principal Financial Group Employees Credit Union. The credit union’s name changed again in 2001 to its current name, Premier Credit Union. In 2004, the credit union moved its main office to downtown Des Moines. In recent years, Premier underwent successful mergers with The Des Moines Register and Equiowa credit unions. Premier’s mission is to Make Life Better – which is seen in everything they do for members and staff! More information on Premier Credit Union can be found at www.PremierCU.org.

The Municipal Federal Credit Union History
The Municipal Credit Union was granted a Certificate of Organization on February 21, 1938.
Chartered by the State of Iowa, the field of membership was originally comprised of the City of Sioux
City and Woodbury County employees and their immediate families. On September 1, 2022 the
credit union was granted Certificate of Organization to become The Municipal Federal Credit Union
which opened membership to Plymouth and Woodbury County in Iowa, Dakota and Dixon County
in Nebraska and Union County in South Dakota. More information on The Municipal Federal Credit
Union can be found at www.municipalcu.com.