Valley Credit Union members voted to approve a merger with WESTconsin Credit Union at Valley’s 60th Annual Meeting in Chippewa Falls on Wednesday evening. The merger will be completed by the end of 2014 after final regulatory approval and conversion of Valley member accounts to WESTconsin’s systems.
“We have done our best to maintain our identity and independence in the enormous arena of the banking industry,” said Timm Smith, Valley Credit Union President. “We thought it would be best to take a proactive approach to continue to serve our members through a partnership with a credit union with similar values to our own. WESTconsin is that partner.”
Valley Credit Union served 4,446 members, and had $28.5 million in assets and a capital ratio of 12.53% at the end of 2013. Valley was established in October 1953 as Northern Colony Credit Union.
“We are excited about providing additional services and value to Valley Credit Union members and potential members in Chippewa Falls,” said Greg Lentz, WESTconsin Credit Union’s Chief Executive Officer. “This partnership is a great fit for both organizations. We look forward to being an active part of the Chippewa Falls community.”