Credit unions must collaborate in order to thrive and more of them are putting this belief into action.
Three Wisconsin credit unions decided to combine, each from a position of strength. Best Advantage Credit Union in Brillion, CitizensFirst Credit Union in Oshkosh, and Lakeview Credit Union in Neenah, all determined it was in the best interest of their credit unions to explore credit union 2.0 – a partnership that would be driven by extensive collaboration.
Each of the credit unions was mid-size or smaller: CitizensFirst had $400 million in assets, Lakeview had $107 million, and Best Advantage had $68 million. Each CEO had independently come to the conclusion that their credit union's long-term success depended on a future that looked different than the present.
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