Royal Credit Union Acquisition of Capital Bank, Saint Paul Complete
Monday, August 29, 2016
Royal Credit Union - ST. PAUL, Minn. (August 29, 2016) - Royal Credit Union (Royal) announced today that its acquisition of Capital Bank in Saint Paul is complete. The transition took place August 27-28 and beginning today Capital Bank Customers are now Members of Royal Credit Union. Royal assumed approximately $35 million total assets in the transaction. 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 1020 Rice Street in Saint Paul, is open 9:00am to 5:00pm weekdays. 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.
“The acquisition allows Royal to offer more convenient access to our values-driven company in the Minneapolis-Saint Paul metropolitan area,” said Rudy Pereira, Royal Credit Union president/chief executive officer. “We welcome our new Members and I am confident they will appreciate our commitment to provide exceptional financial value, great service and community giveback.”
Royal recently announced another planned acquisition in the Minneapolis-Saint Paul metropolitan area. Under the terms of the agreement, Royal will assume deposits and purchase assets of the Deerwood Bank office located in Apple Valley. Pending customary closing conditions, including obtaining regulatory approval, the completion of the transaction is expected to occur later this year.
About Royal Credit Union
Royal Credit Union is a federally insured credit union serving over 160,000 Members with 24 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.