Badger Campus Credit Union of Madison, Wis., is merging into the $2.1 billion Landmark Credit Union of New Berlin, Wis., pending regulatory approval and a vote by the Badger Campus members.
Badger Campus and Landmark boards of directors have already approved the merger. This is Landmark's second merger deal in just over two months. In November, the $52 million Dodge Central Credit Union in Beaver Dam, Wis., agreed to merge with Landmark.
The $13 million Badger Campus CU has lost more than $450,000 since 2009, according to NCUA financial performance reports.
In a press release, Landmark President/CEO Jay Magulski indicated Badger Campus CU's six employees would become Landmark employees.
The merger adds a branch location in Madison and widens Landmark's charter to include two counties. Badger Campus CU also operates a branch inside one of the Forest Product Lab buildings in Madison.
The target date for the merger is March 31 with the merging of Badger Campus' member accounts into Landmark's computer system this summer, Landmark CU said.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
