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CU System
CUs announce mergers in three states
MADISON, WI. (5/11/10)--Six credit unions in three states announced mergers or intentions to merge in the past few days. In Wausau, Wis., members of Wausau City Employees CU (WCECU) voted Thursday in favor of merging with Connexus CU, effective June 1. "The upcoming retirement of WCECU's president [Judy Westphal] as well as an overall desire to offer our members a more robust line of products and services prompted this decision," said Barb Schmidt, WCECU's board chair. "Connexus has a 75-year history of working with select employee groups and providing customized solutions and outstanding service," she said, adding that "Connexus was the obvious choice." WCECU was founded in 1961 to serve city of Wausau employees and their families. It has 820 members and $3 million in assets. Connexus, founded in 1935 to serve employees, retirees and families of Wausau Insurance Cos., has strong partnerships with Liberty Mutual Insurance and Northcentral Technical College, among others. It has 23,000 members and more than $312 million in assets. In Utah, Mountain America CU announced last week that members of the $1.8 million IFA Employees FCU based in Salt Lake City have voted to merge into the $2.8 billion Mountain America, which is based in West Jordan, Utah. IFA's 410 members will join the 341,000 members of Mountain America, said the larger credit union in a press release. Mountain America has 65 branches in four states and offers increased convenience for members, the IFA board had determined when it proposed the merger. In Saginaw, Mich., Generations Family FCU and the Saginaw Veterans Administration Hospital FCU merged, effective May 1 (Michigan Monitor May 10). The combined credit union will keep the Saginaw Veterans Administration Hospital FCU name. The merger means Generations now has three branches in Saginaw, including one in the hospital.


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