Wisconsin Credit Union Merger Would Create $4.2 Billion Asset Institution | Credit Union Journal

Two Wisconsin credit unions are merging.

The $457 million Heritage Credit Union in Deforest has agreed to merge with the $3.7 billion Connexus Credit Union in Wausau pending approval from Heritage Credit Union members.

The credit unions will continue to do business as Connexus Credit Union, with combined assets approaching $4.2 billion and more than 420,000 members, they said.

“Heritage Credit Union’s Board of Directors insisted that the merger is good for all stakeholders,” Heritage Credit Union President and CEO Anita Rauch said in a press release Thursday. “We are convinced that Connexus Credit Union is the best partner for us. By joining forces, we will be able to offer products, services and amenities that we could not offer alone.

Institutions said members will benefit from the agreement with increased convenience through online and mobile services, call centers, branches and ATMs, as well as greater diversification of product offerings and Services.

“This merger…demonstrates our combined commitment to finding optimal avenues to better advocate for our members, new ways to give back and invest in our communities, and allows us to continue to have a positive impact in the lives of all those we we serve,” said Boyd Gustke, president and CEO of Connexus Credit Union.

Boyd Gustke, President and CEO of Connexus Credit Union, said Connexus and Heritage share similar values ​​and culture.

“This merger also demonstrates our combined commitment to finding optimal avenues to better advocate for our members, new ways to give back and invest in our communities, and allows us to continue to have a positive impact in the lives of all those we serve. “, did he declare. in the press release.

Heritage Credit Union earned $3.2 million year-to-date to the end of the third quarter, an 88% increase over the previous year, according to data from the National’s appeal report. Credit Union Administration.

Connexus Credit Union earned $61 million through the end of the third quarter, a 56% increase over the prior year.

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