SUPERIOR, Wis.–Members of the $102-million Hayward Community Credit Union have voted in favor of merging into the $642-million Superior Choice Credit Union.
Eighty-eight percent of members voted in favor of the merger, according to SCCU.
Hayward Community CU has described itself as, “Unbelievably, undeniably, the best Un-bank in town.”
According to Superior Choice, after the merger is complete, the HCCU branches in Hayward and Cable, will remain in operation, and existing employees of both organizations will be retained.
“The merger allows Superior Choice Credit Union to offer expanded services to Hayward Community Credit Union’s 7,500 members while expanding SCCU’s footprint within the northwestern region of Wisconsin,” SCCU said. “The next step for the newly combined financial institution will be to fully integrate operations, products, services, policies, technology, and more.”
The Histories
SCCU said both financial institutions have a long history of serving residents in northwestern Wisconsin with a combined 177 years of serving their communities. Superior Choice Credit Union was chartered in 1932 in the Superior Co-op Store while Hayward Community Credit Union began in 1935 by the Northern Lakes Co-op Oil Association.
At midyear, Hayward Community Credit Union reported $38,721 in net income for the first half of the year, with capital of 8.69%. Superior CU reported $1.6-million in net income over the first two quarters, with capital at 10.48%.
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