MADISON, Wis. – Summit CU said yesterday it has completed its merger with Great Wisconsin CU, formerly CUNA CU, creating the state’s largest credit union, with almost $1.3 billion in assets.
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The combined credit unions, to be known as Summit CU, slightly exceed Landmark CU, with just more than $1.2 billion in assets.
Both credit unions are healthy, with Summit reporting $4.2 million net income for the first three quarters of the year, and Great Wisconsin $2.4 million in net income.
Andy Faust, who heads Summit CU, will serve as the new credit union's chief executive, while Kim Sponem of Great Wisconsin CU will be its president.
