From the October-01, 2008 issue of Credit Union Times Magazine • Subscribe!
MATC CU to Merge with UW CU
MADISON, Wis. -- MATC Credit Union has announced plans to merge into UW Credit Union.<p>The two credit unions will work together to join institutions and provide current members and the Madison Area Technical College community a full-service branch at the Truax campus.</p><p>"We are very excited by the opportunities that this merger will bring," said MATC Credit Union President Rhonda Mork. "We have very similar service philosophies and both have a long history of service to campus communities. This partnership is not only beneficial for current MATC Credit Union members, but an exciting new financial choice for students, faculty and staff." </p><p>MATC Credit Union, with $2.9 million in assets and 650 members, will merge into UW Credit Union, a $1 billion credit union servicing more than 118,000 members by December 2008.</p><p>Both are headquartered in Madison.</p><p>"MATC students, faculty and employees will benefit from a full-service campus branch," said UW Credit Union President and CEO Paul Kundert. "In addition to saving, checking and affordable lending solutions, UW Credit Union's MATC-Truax location will offer the resources of the UW Credit Union's financial safety net program to help promote good money management skills."</p><p>MATC Credit Union staffers have been offered continued employment following the merger, and additional employees will be hired to support expanded hours.</p><p>"We look forward to increasing our service to the whole MATC community," said Kundert. "During our 77-year history we have developed considerable expertise in serving campus communities and take pride in our commitment as a campus partner in providing affordable, quality services to campus employees and students."</p><p>The merger plans are contingent on the approval of the Wisconsin Department of Financial Institutions' Office of Credit Unions.</p>