NOTRE DAME, Ind.–Separate mergers have been announced in Indiana and Minnesota.
In the Hoosier State, Notre Dame Federal Credit Union in Indiana and St. Paul, Minn.-based Catholic United Financial Credit Union said they are seeking to merge. The merger, which has NCUA’s blessing, is now subject to a vote of Catholic United Financial CU members on March 18, 2026. If approved, the merger effective date will be April 1, 2026.
Both credit unions are profitable. The $34.3-million Catholic United reported $136,312 in net income at year-end 2025, with net worth of 10.37%. The $1.2-billion Notre Dame FCU posted $8.2-million in net income and had net worth of 9.35% as of the same date.
Together, the combined credit union will operate as Notre Dame FCU and serve approximately 70,000 members.
“This merger unites two heart-driven organizations,” Andrea Kuhl, President of Catholic United Financial CU, said in a statement. “Both credit unions have a long history of prioritizing purpose and impact over profit. This merger allows us to live that out more fully together and better serve the growing needs of our members and Catholic communities in Minnesota.”
‘Mission-Driven Organizations’
Added Thomas Gryp, president/CEO of Notre Dame FCU in a statement, “This partnership unites two mission-driven organizations with shared values and a common commitment to putting people over profit. Having Andrea and her team join Notre Dame FCU to serve the Upper Midwest Region will be extremely beneficial for all parties, especially our current and future members in the region.”
Following the merger approval, Gryp will continue as president/CEO of the combined credit union, while Kuhl will become Upper Midwest market president, the credit unions said in a statement.
Merger Announced in Minnesota
Separately, in Minnesota, the $174-million Heartland Credit Union and the $242-million Novation Credit Union have announced plans to merge, pending member and regulatory approval.
The credit unions said the proposed
“partnership unites two financially strong, mission-driven Minnesota credit unions with a shared commitment to exceptional service and community impact.”
The Financials
At year-end, Heartland Credit Union had $276,721 in net income and net worth of 9.88%. Novation Credit Union posted $2.81 million in net income and net worth of 10.72% as of the same date.
The combined organization will serve members across 11 Minnesota counties and continue their longstanding commitment to employees, retirees, and families from some of the state’s most iconic employers, including 3M, CHS Inc., Land O’Lakes, Inc. and the newly formed Solventum, the credit unions said.
Under the proposed merger, the combined organization will operate as Novation Credit Union led by Mike Kronebusch, Novation president/CEO.
Together, the organizations said in a statement they “aim to broaden access to competitive financial products and services, expand branch convenience, and strengthen the personalized experience members value.”
‘Rich Heritage’
“Extending our rich heritage of supporting SEGs to employees of additional iconic Minnesota companies positions Novation as the state’s premier SEG-focused credit union,” said Kronebusch in a statement.
Added Heartland Credit Union President/CEO Kathy Harrington in a statement, “Our shared values and member-first philosophy make this a natural partnership that will benefit members and employees alike.”
If approved, the merger will take effect Summer 2026.
