MADISON, Wis. — Journal Credit Union, based in Milwaukee, announced last week that it would be merging with Summit Credit Union in Madison.

The $29 million credit union with 3,700 members will be moving its headquarters in the fall, according to No layoffs are anticipated.

The merger is expected to be completed in September and Summit Credit Union will continue operations with $706 million in assets, 64,700 members, and 12 locations. Summit Credit Union CEO Andy Faust will head up the combined institution. Summit was founded in 1931 and serves five counties in south-central Wisconsin.

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