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McGladrey Capital Markets Provides Advisory Services as Alliant Credit Union Merges with Continental Federal Credit Union

Dépèche transmise le 7 février 2011 par Business Wire

McGladrey Capital Markets Provides Advisory Services as Alliant Credit Union Merges with Continental Federal Credit Union

COSTA MESA, Calif.--(BUSINESS WIRE)--Alliant Credit Union, the seventh largest U.S. credit union in asset size and the sole-sponsored credit union for United Airlines, completed the merger of its operations with Continental Federal Credit Union on January 31, 2011. Continental Federal Credit Union is sponsored by Continental Airlines and US Airways, and Continental Federal Credit Union’s separately branded US Airways Credit Union will also be included as part of the merger.

“As in the commercial banking sector, there is significant opportunity for well-capitalized credit unions to consolidate and improve operating efficiencies, expand their footprint and ultimately, better serve their member base.”

McGladrey Capital Markets acted as the exclusive financial advisor to Alliant. Through the merger, Alliant will gain approximately 24,000 members and assets of $170 million.

“Given both credit unions’ linkage to their respective Star Alliance sponsors, the merger made perfect sense,” said Erik Choy, Vice President of McGladrey Capital Markets. “As in the commercial banking sector, there is significant opportunity for well-capitalized credit unions to consolidate and improve operating efficiencies, expand their footprint and ultimately, better serve their member base.”

About Alliant Credit Union

Based in Chicago, Illinois, Alliant Credit Union is America’s seventh largest credit union in asset size with over $7.0 billion in assets and over 250,000 members nationwide. Alliant’s members include employees, family members and retirees of United Airlines and other select employee groups and qualifying communities.

About Continental Federal Credit Union

Headquartered in Tempe, Arizona, Continental Federal Credit Union was started in 1952 by employees of Continental Airlines. With approximately 24,000 members, Continental has grown to nearly $170 million in assets, with branches in California, Arizona, Texas and New Jersey. Continental Federal Credit Union’s main sponsors are Continental Airlines and US Airways.

About McGladrey Capital Markets

McGladrey Capital Markets LLC (www.mcgladreycm.com) is a global provider of investment banking services to private and public companies with annual revenues of up to $1 billion. The firm’s services include mergers, acquisitions, divestitures, recapitalizations, capital raising, fairness opinions and restructurings. McGladrey Capital Markets, which offers in-depth expertise in many distinct industry sectors, brings together companies, capital and creativity on a national and international scale to help clients achieve their personal and strategic objectives.

McGladrey Capital Markets is affiliated with RSM McGladrey Inc., a professional services firm providing accounting, tax and business consulting. Both firms are indirect subsidiaries of H&R Block Inc. (NYSE: HRB), the world’s preeminent tax services provider. McGladrey Capital Markets’ international headquarters are located in Costa Mesa, Calif. The firm is a member of FINRA.