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Wisconsins Nicolet CU to merge into Ripco CU
RHINELANDER, Wis. (9/15/11)--Ripco CU, a $77.8 million asset credit union in Rhinelander, Wis., said on its website it has been granted approval from the National Credit Union Administration (NCUA) and the Wisconsin Department of Financial Institutions/Office of Credit Unions to acquire the assets of Nicolet CU, a $20 million asset credit union in Eagle River, Wis. The merger is scheduled to occur Sept. 30. In the period prior to that date, Nicolet has a formal management agreement allowing Ripco executives to manage the operations of Nicolet. Ripco management staff is at the Eagle River location, working with existing Nicolet staff to ensure a smooth transition once the merger is finalized. As of Oct. 1, the Nicolet CU will operate as Ripco CU. Nicolet members will see no interruption in service, and their account numbers, checks and plastic cards will remain unchanged for the time being, Ripco said. Deposits at Nicolet will continue to be federally insured for at least $250,000 by NCUA.


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