By Kevin Haas
Rock River Current
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ROCKFORD — A 50-year-old credit union serving employees of UW Health SwedishAmerican Hospital has merged with MembersAlliance Credit Union, the largest locally-owned credit union.

Members of SwedishAmerican Federal Credit Union voted this summer to merge with MembersAlliance, and the merger became official today. SwedishAmerican Federal Credit Union and its roughly 1,100 members will continue to operate under the MembersAlliance name.

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“We’re excited to welcome the SwedishAmerican Federal Credit Union members and employees to the MembersAlliance Credit Union family and appreciate the opportunity to serve them along their financial journey,” MembersAlliance Credit Union President Cheryl Sio said in a news release.

Both credit unions have decades of history serving the Rockford area. SwedishAmerican’s credit union started in 1972, and MembersAlliance was founded in 1938, originally as Sundstrand Credit Union. It is now open to the entire community and has more than 20,000 members.

“We’re focused on inspiring financial wellness and having an empowering impact in our community,” Sio said. “Our real-world banking products, educational workshops and resources, and community participation are all designed to help our members and community members get the most out of their hard-earned money.”

MembersAlliance is open to anyone living or working in Winnebago, Boone, or Ogle counties. It offers an array of consumer financial services including checking and savings accounts, CDs, home and auto loans and other services.

This article is by Kevin Haas. Email him at khaas@rockrivercurrent.com or follow him on X at @KevinMHaas or Instagram @thekevinhaas and Threads @thekevinhaas