Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
Two Wisconsin CUs cancel plans to merge
MILWAUKEE, Wis. (2/20/09)--A proposed merger between two Milwaukee-area credit unions has been called off. The proposal, between $281.7 million asset Guardian CU, based in West Allis, and Prime Financial CU, a $200 million asset credit union in Cudahy, would have created the state's 10th largest credit union (Milwaukee Journal Sentinel Feb. 18). The two had planned to merge to create a wider market area and reduce operating expenses. However, Guardian CU notified the Wisconsin Office of Credit Unions that it was withdrawing from the proposal, said the Journal Sentinel. The newspaper said both credit unions were experiencing financial losses, caused by moving funds into loan-loss reserves to cover loans that potentially might turn bad. Prime Financial has hired Christine Dawe as its chief executive, replacing Richard Koenig. In 2007, Dawe served as a temporary CEO of Allco CU, West Allis, after it suffered losses related to subprime lending.


RSS





print
News Now LiveWire
Better economic & #CU conditions,leading to higher rates in '15,'16, will boost CU earnings, asset quality,capital http://t.co/rmJvi3MIpQ
5 hours ago
RT @CUNA: Today is the first day of #CUYouthMonth How is your #creditunion celebrating?
10 hours ago
New @FICO score metric expected this week, will include utility payments http://t.co/l0hGhilMqQ
11 hours ago
.@TheNCUA increased supplier diversity in 2014 by 49%, although NCUA’s workforce diversity levels declined slightly.
11 hours ago
Also from FFIEC today, council announces reappointments of Mary Hughes and Lauren Kingry to its State Liaison Committee. 2of2
11 hours ago