MADISON, Wis. — In a show of rare unanimity, at least on security matters, the Wisconsin Credit Union League said last week it is joining its banker counterpart in pledging $10,000 to help solve a kidnap and robbery at the branch of a Milwaukee credit union.
In an unusual offer broadcast last month to the media, the Wisconsin Bankers Association said it was earmarking $10,000 from its Robbery Reward Fund to encourage tips leading to the arrest and conviction of criminals who took part in a brazen CU robbery/home invasion of an employee and her son at a Racine branch of Landmark Credit Union Sept. 26.
Mindful of a similar and unsolved kidnap/robbery last year at an Elmwood bank, the WBA two weeks ago said it was also offering $10,000 to demonstrate that such crimes "against any financial institution will not be tolerated." The WBA said also it was the first time it had extended such a reward offer to a "non-bank institution."
In welcoming the WBA gesture, Brett Thompson, president/CEO of the Wisconsin league, said the combined rewards will hopefully "motivate individuals with information to do the right thing and come forward."
"The WBA's offer acknowledges that as financial institutions, we're all vulnerable when it comes to security," said Thompson.
In a news release announcing its $10,000 offer, the WCUL also reminded the public that federal insurance protects funds deposited in a CU adding, "not one penny of federally insured funds has ever been lost by a credit union member" in light of NCUA's $100,000 insurance.
As to whether there could be further future collaboration between banks and CUs on issues other than security, Thompson said that remains to be seen. Nonetheless, over the years the industries have found commonalities before the legislature on certain issues and "there is nothing to rule it out in the future."
"Over time I am sure there are areas where we will cooperate," Thompson concluded.
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