In order to expand its area of service to the Manitowoc area, Verve, a Credit Union, will merge with Two Rivers Community Credit Union.
OSHKOSH, Wisconsin (March 25, 2015) – In order to expand its area of service to the Manitowoc area, Verve, a Credit Union, will merge with Two Rivers Community Credit Union (TRCCU) in late fourth quarter of 2015. This merger is pending final approval from the Wisconsin Department of Financial Institutions, Office of Credit Unions, and the National Credit Union Administration. The membership of TRCCU voted in favor of the proposed merger 48-0. TRCCU has one branch location, $7 million in assets and 700 members.
According to President, Fran Honzik, TRCCU had been seeking the right merger partner, and they found it in Verve: “More than just offering enhanced products and services, Verve has the culture—the enthusiasm and drive—that we’re looking for,” he said. “Success for both credit unions has stemmed from a commitment to community and a readiness to adapt. Together we’ll take these ideas to the next level.”
For Verve, the TRCCU partnership follows a 2014 merger with Lakeview and Best Advantage Credit Unions as well as a recent announcement to merge with Community Credit Union in La Crosse. “Our collaborative efforts last year created a model for future credit union partnerships,” said Kevin J. Ralofsky, President and CEO of Verve. “This model is coming to life as we begin work with TRCCU. Seeking out strong financial partners, who are also aligned with our same values, will empower us to serve our members and communities at the level our members deserve. This is the type of service that creates an environment where all participants can thrive and allows us to open our doors for generations to come.”
Verve, a Credit Union, is a member-owned, not-for-profit financial cooperative with more than $580 million in assets and serving nearly 47,000 members at ten locations. Membership is open to anyone who lives, works or worships in 15 Wisconsin counties from Brillion to Fond du Lac. Membership is also open to employees of Kimberly-Clark Corp., Neenah Paper and the medical services industry, and to the immediate family of any current member.