The $52 million Dodge Central Credit Union in Beaver Dam, Wis., plans to merge with the $2 billion Landmark Credit Union in New Berlin, Wis.
The credit unions said their two boards have approved the merger and that it now awaits regulatory approval and vote by Dodge Central members. They plan a Dec. 31 target date for the merger with the merging of Dodge Central's member accounts into Landmark's computer system in the spring or summer of 2013.
“We are very happy to welcome Dodge Central's 9,750 members and 33 employees to the Landmark family,” said Jay Magulski, president. “This merger allows us to strategically expand our branch locations and better serve all members in the area.”
In October, Landmark filed applications to buy the $190 million Hartford Savings Bank in Hartford, Wis., following a series of acquisition of small credit unions by merger in 2011.
Landmark said the Dodge Central merger adds locations in Beaver Dam, Juneau, Mayville and Fall River and widens Landmark's charter to include Columbia, Marquette and Fond du Lac counties. Dodge Central CU also has an in-school branch at Beaver Dam High School.
Barbara Campbell, Dodge Central president/CEO, will join the 196,000-member Landmark as a regional president and continue to work from the Beaver Dam location, the credit unions said.
“It is rewarding to be able to offer our Dodge Central members an expanded list of products, services and locations that Landmark brings,” Campbell said.
Landmark said it currently has 489 employees at 25 locations throughout southeastern Wisconsin.
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