May 23, 2023

Two Sioux Falls credit unions are planning to merge.

First Century Federal Credit Union, which has a location at 1512 E. Benson Road, is merging with Voyage Federal Credit Union. Voyage FCU has three branches in Sioux Falls and also is gaining one in Vermillion from a recent merger with Vermillion Federal Credit Union.

For First Century FCU, the decision to merge coincides with the retirement of CEO Jay Meyer Sr. and an in-depth board review to find a strategic partner in Sioux Falls, the credit union said in a statement.

The merger is pending regulatory approval from the National Credit Union Administration and a membership vote.

“The merger will bring together two strong financial institutions, positioning them to better serve their members and local community,” the credit unions said in a statement.

“First Century FCU and Voyage FCU share a common focus on delivering exceptional member service. The partnership will provide significant operational efficiencies, enabling the merged credit union to streamline processes and continue to offer competitive rates and terms on loans and deposits. Members will benefit from an expanded branch network, enhanced digital banking capabilities and a broader range of financial services, all backed by the same trusted commitment to excellence.”

First Century FCU was chartered in 1935 to serve the transportation industry, primarily trucking. Membership is limited to those employed by its business members and their immediate families.

Upon completion of the merger, which is anticipated in September, the combined credit union will operate under the name Voyage Federal Credit Union in Sioux Falls.