Badger Campus Credit Union of Madison, Wis., is merging into the $2.1 billion Landmark Credit Union of New Berlin, Wis., pending regulatory approval and a vote by the Badger Campus members.
Badger Campus and Landmark boards of directors have already approved the merger. This is Landmark’s second merger deal in just over two months. In November, the $52 million Dodge Central Credit Union in Beaver Dam, Wis., agreed to merge with Landmark.
The $13 million Badger Campus CU has lost more than $450,000 since 2009, according to NCUA financial performance reports.
In a press release, Landmark President/CEO Jay Magulski indicated Badger Campus CU’s six employees would become Landmark employees.
The merger adds a branch location in Madison and widens Landmark’s charter to include two counties. Badger Campus CU also operates a branch inside one of the Forest Product Lab buildings in Madison.
The target date for the merger is March 31 with the merging of Badger Campus’ member accounts into Landmark’s computer system this summer, Landmark CU said.