GREEN BAY, Wis.–Two Wisconsin credit unions have announced a merger.
The $43-million Horizon Community Credit Union said it will merge into the $1.2-billion Fox Communities Credit Union, which is based in Appleton, Wis., effective Jan. 14, 2017.
"The reason Horizon approached Fox Communities was based on opportunities for both our members and the Horizon team, who will all remain with the credit union,” said HCCU President Pat Josephson. “The core values of each of the credit unions are very similar. Having additional offices, products, and services for our membership was vital. It is important that we continue to grow and stay competitive with the ever-changing needs of our members.”
The combined credit union will have 87,000 members.
“Fox is excited to welcome the members of Horizon Community Credit Union,” said Fox Communities Credit Union President Greg Hilbert. “Both credit unions share a deep understanding of our commitment to members and the communities we serve. This partnership shows how credit unions continue to work together to improve and expand product and service offerings for all members.”
In September of 1932, Horizon was chartered for the employees of the Hoberg Paper Company, who later became Charmin, then Procter and Gamble. When the credit union became community based in 2003, it changed its name to Horizon Community Credit Union.
Fox Communities Credit Union first began as Combined Locks Credit Union, in 1937, when it served employees of the Locks Mill. The name was changed to Fox Communities Credit Union in 1987.