NEW BERLIN, Wis. (12/2/11)--Four smaller Wisconsin credit unions are merging into Landmark CU in New Berlin, Wis., it announced Thursday.
Merging into Landmark are: American CU, Milwaukee; People's CU, Cudahy; Co-operative CU, Racine; and Burlington and Horizon CU, Racine.
The target date for all the mergers is Dec. 31, with the integration of member accounts into Landmark's computer system in the first and second quarters of 2012.
All employees of the four credit unions will be offered jobs at Landmark.
Facts about the four credit unions merging into Landmark include:
- American CU serves 3,986 members and has assets of more than $22.5 million.
- People's CU has 1,963 members and $13.2 million in assets.
- Co-operative CU, with a branch in Racine and one in Burlington, serves 4,450 members and has more than $22 million in assets.
- Horizon CU serves 3,729 members and has assets of more than $26.2 million.
Approval by the Wisconsin Office of Credit Unions has been received for the Co-Operative and American mergers and is pending for the Horizon and People's mergers. Approval votes by their members have been completed at Co-Operative and American, and are pending at Horizon and People's credit unions.
Landmark has $1.7 billion in assets, with 449 employees who serve more than 173,000 members at 20 locations throughout Southeastern Wisconsin. The mergers will take Landmark to $1.8 billion in assets, with 25 branch locations.