Royal CUs Charlie Grossklaus To Retire
EAU CLAIRE, Wis. – Charlie Grossklaus, who has spent 40 years at Royal CU, the last 26 as CEO, said yesterday he plans to retire a year from now from the credit union he built into a $1.2 billion giant.
Grossklaus’ vision to grow Royal to a $1 billion credit union was realized in 2010 through the purchase of 11 branches and $250 million of deposits of Wisconsin’s AnchorBank.
Grossklaus, 65, only the second CEO for the 56-year-old credit union, chartered by Uniroyal Tire, took the helm in 1985 when Royal had just $100 million in assets, 100 employees and six branches. The credit union now has 582 employees, 25 branches and serves 18 counties in Wisconsin and 12 counties in Minnesota.
Royal will begin a nationwide search for a successor.