Wisconsin Merger Complete, Creates Nearly $5 Billion CU

Nine months after announcing the intent to merge, the DeForest, Wis.-based Heritage Credit Union completed its final merger step into the Wausau, Wis.-based Connexus Credit Union on Wednesday. With the merger finished, Connexus’ asset size climbed to $4.9 billion and now has a membership base of more than 430,000.

Last November, the credit unions announced the merger plans and after Heritage members voted to approve the merger on Jan. 3, the credit unions legally combined on March 1. As of Wednesday, the final piece fell into place as all Heritage branches converted to the Connexus brand.

Connexus is the fifth largest credit union in Wisconsin.

“It’s exciting to be a part of two organizations becoming stronger together while providing continuous commitments to our employees, members and communities. We look forward to building upon our legacy of exceptional service and member satisfaction,” Heather Ristow, Connexus’ market president and former COO for Heritage, said. “The completion of the merger is a pivotal moment for our employees, who we cannot thank enough for their hard work and unwavering support.”

“We are excited to welcome the members of Heritage Credit Union to our newly combined organization and look forward to further strengthening the meaningful impact they have in their communities,” Boyd Gustke, Connexus’ president/CEO, commented. “Our member-owners are the foundation of our credit union, and it’s our responsibility to honor their continued loyalty by providing simple, reliable and relevant experiences that they trust for years to come. Additionally, I’d like to express my gratitude for the exceptional work completed by our talented employees, whose commitment to the credit union resulted in the successful merger of two exceptional organizations.”

Once the merger was official, Heritage President/CEO Anita Rauch retired after working at the credit union since 1982 and becoming CEO in 2014.