GREEN BAY, Wis. Pioneer CU and Capital CU, based in nearby Kimberly, have agreed to merge, creating a $1 billion credit union covering an area stretching from Oshkosh to Shawano and Sturgeon Bay to be known as Capital Pioneer CU.
Capital CU President Al Zierler said both credit unions have 12 branches, and none of them overlap service areas.
Zierler says Pioneer members still have to vote on the merger, and it likely wouldn't be completed until July of next year.
Both credit unions are healthy, with Pioneer claiming $570 million in assets, 53,000 members and 9% net worth at March 31, while serving Brown, Door, Kewaunee, Shawano, Manitowoc, Oconto, Outagamie, Marinette, or Calumet counties in Wisconsin.
Capital CU, with $460 million in assets, 35,000 members and 14% net worth, was chartered in 1934 to serve Kimberly Clark employees and now serves all of Outagamie, Calumet, Winnebago or Brown counties in Wisconsin.
