Black Hills Federal CU Announces Merger with CR Community First FCU
Black Hills Federal Credit Union, based in Rapid City, SD, has announced a merger with CR Community First Federal Credit Union of Eagle Butte, SD.
The $554,000 asset CR Community First was established in 2007 to serve the Cheyenne River Reservation in South Dakota, one of our nation’s largest reservations but with a sparse population of just over 8,000. The Reservation encompasses the counties of Dewey and Ziebach, which according to census figures rank among the poorest counties in the nation.
Roger Heacock, President and CEO of the $950M Black Hills FCU said the credit union is looking forward to the opportunity to serve the many “unbanked” or “under banked” people living on the Cheyenne River Reservation. “This is an important merger for people who want to receive fair and equitable treatment from their financial provider. In the short time we’ve been in Eagle Butte, we have found people are very interested in the not-for-profit, cooperative style of financial services. Our commitment to financial education, credit building, and community involvement are much needed here” said Heacock.
The merger was made effective on September 4, 2012. As of that date, all members of CR Community First became members of Black Hills Federal Credit Union. Additionally, businesses and individuals who live work, worship, or attend school in Ziebach or Dewey counties became eligible for membership. According to Heacock, Black Hills FCU will maintain a Member Service Center in Eagle Butte and is currently operating in CR Community First’s location until a more permanent site is secured.