NEW BERLIN, Wis. (11/19/12)--Two Wisconsin credit unions have announced they plan to merge, pending regulatory approval and a vote by the merged credit union's members.
Dodge Central CU, a $52 million asset credit union based in Beaver Dam, will merge with Landmark CU, a $2 billion asset credit union in New Berlin. The boards of both credit unions have already approved the merger. Dodge Central CU's members will also vote on the proposal.
The credit unions said they expect the merger to be completed Dec. 31, with Dodge Central's member accounts combined into Landmark's computer system in the spring or summer of 2013.
"This merger allows us to strategically expand our branch locations and better serve all members in the area," said Landmark President Jay Magulski. "We continue to execute on our brand promise, which is to bring consistent value and convenience to our members," he said.
"We do this with great rates on loans and deposits and excellent customer service. And, we continue to offer free checking accounts and products and services with no or low fees. We work hard so our members can truly benefit from the value that only a credit union delivers," Magulski added.
Dodge Central CU President/CEO Barbara Campbell will join Landmark CU as a regional president and continue working from the Beaver Dam location. "Our two credit unions share a belief in excellent customer service as well as a focus on employee satisfaction and a commitment to community involvement," she said, noting that Dodge Central members would benefit from the "expanded list of products, services and locations that Landmark brings."
Landmark will add locations in Beaver Dam, Juneau, Mayville and Fall River, and the merger will widen its charter to include Columbia, Marquette and Fond du Lac counties. Dodge Central CU also has an in-school branch at Beaver Dam High School.
Dodge Central has 9,750 members and 33 employees. Landmark has 489 employees who serve more than 196,000 members at 25 locations in Southeastern Wisconsin. The merger will bring its locations up to 30.