The $220 million Heritage Credit Union of Madison, Wis., is merging with a smaller peer, the $5.6 million Truax Credit Union, after the Truax board selected Heritage as a partner, it was announced this week.
In a statement, Anita Rauch, president of Heritage, said the merger was formally made effective June 30.
“Since opening in 1956, Truax Credit Union has offered financial services to members though a branch conveniently located at the Dane County Regional Airport and serves military employees,” said Rauch.
Following computer conversion, Heritage Credit Union will serve 26,500 members at nine branches in southern Wisconsin and Illinois. Heritage Credit Union was established in 1934 to serve the employees of Oscar Mayer & Co.
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.
