Dec. 22, 2022

Voyage Federal Credit Union is planning to merge with Vermillion Federal Credit Union.

The merger would combine Vermillion FCU’s 2,800 members with Voyage’s 17,000 members and create an organization with combined assets of more than $200 million.

Voyage is based in Sioux Falls, serving members in Minnehaha and Lincoln counties. The merger with Vermillion FCU is part of a larger expansion that opens membership opportunities to include 25 counties in South Dakota, Iowa, Minnesota and Nebraska.

Voyage serves its members from three branches in Sioux Falls. Vermillion FCU has one branch in Vermillion, which would remain open as Voyage FCU. With the merger, Vermillion FCU members will have the ability to use their credit union as a full-service financial partner with expanded services such as business checking, business loans, money market accounts and IRAs.

The proposed merger requires regulatory approval from the National Credit Union Administration, as well as Vermillion Federal Credit Union members. It’s anticipated to take effect during the summer of 2023.