It's been a big year for mergers – four of them – for the $540million Great Lakes FCU in North Chicago, Ill., with the latestproviding a toehold into the Milwaukee, Wis. market.
“Yes, we have tried to be supportive to small credit unions thatexperienced capital problems and look to us for help,” Vikki I. Kaiser, president/CEO of Great Lakes, said of theconsolidation of the long-troubled $11 million Federated Family CUof Milwaukee approved last week by the NCUA.
Federated is a victim of the 2009 subprime loan disasterbefalling a string of southern Wisconsin and Illinois CUs followingthe collapse of Central States Mortgage Co., an industry-runCUSO in the Milwaukee suburb of Wauwatosa.
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