ASHWAUBENON, Wis. Members of Pioneer CU have approved the merger of their $575 million credit union with Kimberly-based Capital CU, creating a $1.2 billion institution to be known as Capital Pioneer CU, with 25 branches in the Green Bay and Appleton areas.
The merger is expected to be completed in October 2014. That date was chosen, in part, because of plans to install a new core processing system.
Both credit unions are healthy, with Pioneer serving 55,000 members throughout Brown, Door, Kewaunee, Shawano, Manitowoc, Oconto, Outagamie, Marinette and Calumet counties in Wisconsin, and claiming 9% net worth at mid-year. Capital CU, chartered in 1934 to serve Kimberly Clark employees, serves 35,000 members throughout Outagamie, Calumet, Winnebago and Brown counties in Wisconsin, and had net worth of 14% at June 30.
Final regulatory approvals are pending.
