WAUSAU, Wis. (2/28/12)--Members of Tower CU, with $45 million in assets, on Sunday approved a merger with $410 million Connexus CU during a special meeting on Sunday.
Both credit unions are based in Wausau, Wis.
"Difficult economic times combined with new regulatory requirements and increased competition challenged us to evaluate our ability to serve our members as we would like," said Hal Osborn, Tower CU president. "A merger with Connexus CU will ensure that our members will receive the products and service to meet their every need now and in the future," he said.
The merger is expected to be completed later this spring.
Tower is the second Wausau-area credit union to announce merger plans with Connexus this month. Maple Hill CU, with $11 million in assets, approved its merger with Connexus on Feb. 16.