Mergers Done in Three States
Credit unions in Utah, Wisconsin and Michigan said they completed mergers earlier this month.
The Goldenwest Credit Union in Ogden, Utah, said it finished its operating systems integration with USU Credit Union earlier this month, the final step in the merger process.
The cooperatives officially merged in October, making Goldenwest among the largest financial institutions in northern Utah with nearly $1 billion in assets, 26 branches and more than 97,000 members.
USUCU branches are operating as a division of Goldenwest and maintaining their brand in Cache Valley to stay close to their roots as a 56-year-old affiliate of Utah State University, according to a Goldenwest statement.
The systems integration between the two organizations began in early September. Employees and consultants worked to provide a smooth transition of accounts, products and services for USUCU members to the Goldenwest CU operating systems.
The integration project was completed on March 1, Goldenwest CU said.
David Butterfield, the former president/CEO of USUCU, now serves as a regional president for the merged credit unions.
Also, earlier this month, credit unions in Wisconsin and Michigan announced the completion of mergers.
The $14 million Greater Milwaukee Credit Union of West Allis consolidated with the $1.9 billion Summit Credit Union in Madison. Founded in 1923, GMCU served about 2,000 employees who worked for the federal or state governments or the U.S Postal Service. Lori Pook, who was president/CEO of GMCU, now serves as a vice president of enterprise risk management at Summit CU, according to a Summit CU statement. GMCU's office in West Allis remains open.
The $518 million University of Michigan Credit Union in Ann Arbor announced its merger completion of the $20 million, 2,572-member Eastern Michigan Credit Union in nearby Ypsilanti. Eastern Michigan CU's sole branch remained open.