A pair of local Credit Unions have agreed to a potential merger.

St. Cloud Financial Credit Union and StarCor, based in Becker, have announced their intentions of merging their two companies. The two companies will now become one organization under the name St. Cloud Financial.

Both companies are looking forward to what the future holds when the merger is completed. John Hardekopf, President and CEO of StarCor said, “In looking for a merger partner to help us better serve our members, I believe that St. Cloud Financial was a great fit in philosophy and geographically.”

St. Cloud Financial will serve over 21,000 members over their six branch locations, with roughly $200 million in assets.

The merger process was pre-approved by regulators and was officially approved on Tuesday. Final regulatory approval is expected in the next few months.