Fox Communities Credit Union in Appleton, Wis. is set to acquire Green Bay-based Harbor Credit Union, effective July 1, with the combined entity retaining the Fox Communities CU name.
Based in Appleton, Wis., Fox Communities CU currently has about $1.35 billion in assets and more than 88,000 members. The $113 million-asset Harbor CU has about 11,500 members.
“Harbor Credit Union has always kept the interest of our members in the forefront of our minds,” Michael DeGrand, president of Harbor CU, said in a statement. “With that as the guiding principle, we decided that the best way to accomplish this was to unite with Fox Communities Credit Union.”
DeGrand added that “all of our staff will remain with the credit union and with the expanded hours, we hope to add additional job opportunities.”
Greg Hilbert, president of Fox Communities CU, said that the former Harbor CU members will now have access to its auto buying program, business lending program, financial planning and a first-time home buying program.
Fox Communities CU posted income of about $11.7 million last year, up slightly from $11.5 million the prior year.
Meanwhile, Harbor CU recorded net income of about $262,000 last year, down sharply from $510,000 in calendar 2015.
In January of this year,
