The $500 million Connexus Credit Union in Wausau, Wis., purchased Financial Institution Lending Options LLC, a company also based in the Badger State that provides credit unions with auto loans through pool sales, participation pools and whole loan flow sales.
Wisconsin credit union buys FILO with plans to expand company's market for pool, participation sales of auto loans.
The $360 million Connexus Credit Union is carving out a special merger path in its central Wisconsin hometown by consolidating two of its smaller competitors.
Marking its second merger bid in two weeks, Connexus Credit Union of Wausau, Wis., said members of $45 million Tower CU approved its offer.
In a pre-Presidents Day transaction, Connexus has won member approval to merge Maple Hill Credit Union and is looking to consolidate a second Wisconsin CU.