The membership of Kenosha City Employees Credit Union in Kenosha, Wis., recently voted unanimously to merge with Blackhawk Community Credit Union, based in Janesville, Wis., at a special meeting.
The merger is scheduled to take place on Jan. 31, but the Kenosha City Employees name will live on as part of Blackhawk Community’s corporate strategy related to growth via merger that allows smaller CUs to retain their identity and mission while benefiting from the Blackhawk’s greater economies of scale.
“We are offering an alternative to the standard merger that respects the heritage and field of membership each credit union serves,” said Matt Krauter, Blackhawk SVP of new markets.
In keeping with this strategy, the two CUs said the $9.9 million Kenosha City Employees Credit Union will retain its name, staff and branch location at 625 52nd Street in Kenosha. The branch is located within the Kenosha Municipal Building. The credit union serves the employees of the city and their families.
The $449 million Blackhawk Community CU said it also will be opening a full-service branch in Kenosha this summer.
