WISCONSIN RAPIDS, Wis.–Credit unions in Wisconsin and Wyoming have announced separate plans for mergers.
Two Wisconsin credit unions have announced plans to merge. The $156-million Bull’s Eye Credit Union said it will merge into the $1.7-billion Connexus Credit Union in Wausau, Wis.
According to Connexus, the credit unions are now awaiting regulatory approval and a vote by Bull’s Eye CU members to complete the combination.
David Stark, president of Bull's Eye Credit Union said if the merger is approved, he anticipates changes starting later in the year. Bull's Eye members will be sent a comprehensive membership packet well in advance of any changes to their accounts, including information about changes to cards, checks and details on how to enroll in the new products and services.
"The goal is to make the transition as seamless as possible, and keep members informed throughout the process," said David Stark, president of Bull’s Eye CU, in a statement.
When completed, the combined institution will have more than 323,000 members.
In Casper, Wyo., meanwhile, the $36.2-million River-Rail Community FCU and the $5.2-million Families First FCU said they will combine and operate as Pathfinder FCU.
Both credit unions have had a number of other mergers in their respective pasts. River Rail, chartered in 1954 as Burlington Railroad FCU, merged with North Platte River District FCU in 2007, and later absorbed Elk Basin FCU.
Families First FCU has previously absorbed Catholics United FCU via a merger.
Tyler Disburg, CEO of River-Rail Community, will lead the merged credit union.
The two CUs are awaiting approval from NCUA and hope to have the merger completed by July 1. Plans call for the new headquarters of the newly-named CU to be housed in the former Provident Federal Savings and Loan building in downtown Casper.
The former facilities of both credit unions are being sold.