Royal Credit Union Acquisition of Deerwood Bank, Apple Valley Complete

Nov 08 2016 | Written By Jennifer McHugh, Director of Public Affairs and Financial Education

Royal Credit Union (Royal) announced that its acquisition of Deerwood Bank in Apple Valley, Minnesota is complete. The transition took place November 5-6 and beginning November 7, 2016 Deerwood Bank, Apple Valley customers became Members of Royal Credit Union. This acquisition offered Royal the opportunity to enhance office accessibility to its current Minnesota Membership, as well as serve additional Members in Minnesota. The office, located at 14295 Cedar Avenue in Apple Valley, was Deerwood Bank’s only facility included in the agreement.

The office is open 9:00am to 5:00pm weekdays and 9:00am to Noon on Saturdays. The drive-up is open 8:00am to 6:00pm weekdays and 9:00am to Noon on Saturdays. A drive-up ATM is also available 24 hours a day. The new Members were mailed a personal welcome guide explaining the transition process and outlining the benefits of credit union membership.

“Growth provides the fuel that allows Royal to continue to offer all Members our strong value proposition, enhanced technology solutions, and impactful give-back,” said Rudy Pereira, Royal Credit Union president/chief executive officer. “We welcome our new Members and I am confident they will appreciate our lower fees, high deposit rates, lower loan rates and community involvement.”

Royal has a history of successful growth and in September received regulatory approval to acquire Capital Bank located at 1020 Rice Street in Saint Paul, MN. Other recent expansion includes opening a new office in Hudson, WI in 2014 and completing a merger with the Sacred Heart Hospital Employees Credit Union in Eau Claire, WI also in 2014.

 

About Royal Credit Union

Royal Credit Union is a federally insured credit union serving over 160,000 Members with 25 full service offices. Royal is driven by a core ideology which is built on strong purpose and values. You can open an account or apply for a low-rate loan at Royal Credit Union if you live or work in 18 counties in Western Wisconsin or 12 counties in Minnesota. Counties served in Wisconsin include Eau Claire, Chippewa, Barron, Buffalo, Burnett, Clark, Dunn, Jackson, Marathon, Pierce, Pepin, Polk, Rusk, St. Croix, Taylor, Trempealeau, Washburn, and Wood.  Counties served in Minnesota include Anoka, Carver, Chisago, Dakota, Goodhue, Hennepin, Olmsted, Ramsey, Scott, Wabasha, Washington, and Winona. Realtors in the state of Wisconsin or Minnesota are also eligible to join the credit union. Visit rcu.org or call Royal Credit Union at 1-800-341-9911 for more information.