MARSHFIELD, Wis.– Two Wisconsin credit unions have announced plans to merge.
The $30-million CONE Credit Union in Neenah, Wis., said it plans to merge into the $363-million Simplicity CU here effective July 1, with system integration scheduled to be completed by the Fall.
In a statement the credit union said CONE’s current staff and location at 219 W. Cecil St. in Neenah will remain. CONE serves about 1,500 members in Brown, Calumet, Outagamie, Fond du Lac and Winnebago counties.
CONE CU reported net income of $5,622 for the first quarter of 2021 and a net worth ratio of 10.85%. In disclosure forms filed with NCUA CONE said there is no plan to distribute any of the net worth to the members.
Simplicity Credit Union serves more than 25,000 members from locations in Marshfield, Stevens Point, Plover and Neillsville.