Kohler Credit Union and Shipbuilders Credit Union announced the planned merger has received regulatory and member approval.
During the consolidation process Kohler Credit Union and Shipbuilders Credit Union will operate independently, while the integration management team works toward unification.
“This juncture signifies a critical step in our path toward transforming into a more dynamic financial institution, expanding our reach and capabilities to cater to the ever-changing needs of our members and community. Whether it involves promoting financial wellness, helping small businesses grow, or engaging in volunteer efforts, our united credit union will be well-positioned to actively contribute as an engaged and committed partner,” stated Tony Klockow, president and chief executive officer of Kohler Credit Union.
Mike Steimle, interim president and chief executive officer of Shipbuilders Credit Union added, “In uniting the talent and expertise from both organizations, along with the high degree of similarities between the two, a smooth transition is anticipated for members and employees.”
Kohler Credit Union is a $615 million not-for-profit, financial cooperative, owned and governed by its members. Membership is open to anyone who lives or works in Sheboygan, Calumet, Fond du Lac, Manitowoc, Milwaukee, Ozaukee, Washington or Waukesha County; as well as their immediate family members and associations or organizations.
Shipbuilders Credit Union is a $116 million not-for-profit cooperative that provides its members with comprehensive, personalized and convenient service. There are three local branches: 2001. Membership is open to anyone living or working in Manitowoc, Brown, Calumet, Door, Kewaunee, and Sheboygan counties.
