Levo Credit Union Receives Federal Approval, Hires Branch Manager in Sioux City

Levo Credit Union will open its first building in Sioux City, IA, in January of 2025. Levo has earned regulatory approval to acquire the Heritage Bank branch at 4530 Singing Hills Boulevard. The branch will officially open as Levo’s Singing Hills branch on Tuesday, January 21, 2025. Levo, which is headquartered in Sioux Falls, SD, will employ the existing staff under direction of branch manager and Sioux City resident Jesús I. Peña-Ortiz.

“I’m excited to put my experience to work for a forward-thinking, community-oriented financial institution like Levo,” says Peña-Ortiz, who has worked for several banks and credit unions in the area in various roles over the past 21 years. “I love Siouxland and I can’t wait to help Levo bring our service-oriented approach to this community.”

The acquisition was recently approved by the FDIC, which oversees banks, as well as the NCUA, which oversees credit unions. In December 2023, Levo announced an expansion of its service area from 4 counties around Sioux Falls to 29 counties along the I-29 corridor in South Dakota, Iowa, North Dakota, and Minnesota. Levo already offers online financial services in all 29 counties, including several Iowa and South Dakota counties in the Siouxland area.

“We feel we have something of value to bring to Siouxland,” says Levo President and CEO Fran Sommerfeld. “Our mission is helping people live better. With this acquisition, we can serve more people by helping them reach their financial goals.”

When the bank becomes Levo’s Singing Hills Branch in January, its customers will become members of Levo, and Levo will take on most of the deposits and loans. Heritage has reached out to its customers to let them know of the acquisition, and both companies will continue to communicate the impact to customers. The hours of the branch will remain 9 a.m. to 5 p.m. Monday through Friday.

Levo has already begun planning how it will support not only its new members, but also its community. Last year Levo’s foundation donated more than $99,000 in goods and services to over 80 causes.

“We support our community because our community makes us what we are, and we’re looking forward to expanding that support to Siouxland,” says Sommerfeld. “Levo means ‘to lift up’, and that’s what we try to do every day.”