MILWAUKEE – Guardian CU announced yesterday it has agreed to combine with Prime Financial CU to create a $500 million credit union, the state’s tenth largest.
The newly formed institution will maintain the Guardian name and serve about 82,000 members. Guardian is the larger of the two credit unions, with more than $290 million in assets.
The two credit unions are both healthy and both reported strong earnings through the first half of the year.
Guardian, which was chartered in 1934 as the Harnischfeger Employees CU, has four full-service branches in Milwaukee County, two in Waukesha County and one in Racine County.
Prime Financial, founded in 1923, is formerly the Milwaukee city and county employees credit union and has seven branches in Milwaukee County, and one each in Waukesha County and Manitowoc County.
