Wisconsin Merger Called Off

Published February 20, 2009, 6:29 p.m. EST

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Updated August 27, 2020, 12:48 a.m. EDT

1 Min Read

WEST ALLIS, Wis.-The proposed combination of Guardian CU and Prime Financial CU, which would have created the state's 11th largest credit union, was called off amid large losses reported by both Milwaukee-area CUs.

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The decision to indefinitely delay the merger was made by both boards, according to Prime Financial, the $190-million Cudahy credit union which reported an $8-million loss for 2008. Guardian, with $281 million, had a $2.4- million loss. Prime Financial said its long-time CEO, Rich Koenig, has left the CU.

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