The merger of the $70 million State Central Credit Union of West Allis, Wis., into the $1.5 billion Summit CU is now nearly complete, but State Central members received a bonus last month recognizing their loyalty-a $5.2 million dividend.
The stipend also recognized State Central's 20% capital ratio.
The distribution, one of the largest in the state and part of the original February merger deal, came on June 30 at the close of State Central's consolidation with Madison-based Summit. The management of both CUs paid tribute to member loyalty.
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