CitizensFirst along with former Lakeview and Best Advantage credit unions underwent a groundbreaking, collaborative merger…
CitizensFirst along with former Lakeview and Best Advantage credit unions underwent a groundbreaking, collaborative merger in May of last year. The first of its kind in the state of Wisconsin, the merger was a cooperative effort to combine assets, leading to better products and services for our members. CitizensFirst is pleased to announce yet another partner in this collaboration. Community Credit Union, based in La Crosse, Wisconsin and serving 11,365 members, is set to become a division of CitizensFirst later this year.
The merger last May provided an attractive model for future credit union partnerships, and the same collaborative approach has been taken for this second iteration. Reflecting the seven cooperative principles, the merger received a unanimous vote from both Boards involved, which occurred in December. Pending an additional vote by Community Credit Union members and approval by the Wisconsin Department of Financial Institutions, Office of credit Unions and the National Credit Union Association, the merger is expected to be official in late spring of 2015.
In addition to contributing over $117 million in assets and four branch locations, Community Credit Union will also add even greater financial strength to the successful Cooperative. As a member-owned financial, providing cost-effective, reliable products and services comes first and foremost, and this ideal is the driving force behind the merger. Combining efforts will create a more secure credit union and allow us to serve a wider population.
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