The $13 million, 2,371-member Ladish Community Credit Union in Cudahy, Wis., will merge with the $860 million, 77,432-member TruStone Financial Federal Credit Union in Plymouth, Minn. on April 1.
Both TruStone Financial and LCCU boards of directors unanimously approved a merger, according to a statement released Friday.
This proposed merger is TruStone Financial's third in three years. The credit union acquired the assets of A M Community Credit Union in Kenosha, Wis., in August 2012 and the Ukrainian Credit Union of Northeast Minneapolis in May 2011.
“The addition of LCCU allows TruStone Financial to continue to expand our geographical footprint into eastern Wisconsin, while giving (LCCU) members additional conveniences, enhanced service and product offerings," said Tim Bosiacki, president/CEO of TruStone Financial.
With the rapidly increasing demand for technology and convenience and growing regulatory burdens, a merger with TruStone Financial is the ideal solution for LCCU’s membership, said Al Zdrojewski, board chair at LCCU.