Kohler Credit Union and Shipbuilders Credit Union jointly announced an intent to merge, subject to regulatory approval and membership vote.
The merger has been approved by both credit unions’ boards of directors. The combined entity will operate under the name Kohler Credit Union.
“As our journey unfolds, the merger of Kohler Credit Union and Shipbuilders Credit Union emerged organically, driven by the presence of our existing branch and a compelling opportunity for growth. The union symbolizes the convergence of strengths and shared visions. Together, we are shaping a more robust credit union that promises significant opportunities for our members, communities, and dedicated employees,” said Tony Klockow, president and chief executive officer of Kohler Credit Union.
Mike Steimle, interim president and chief executive officer of Shipbuilders Credit Union, said, “This merger is propelled by optimism and an unwavering dedication to our members. It signifies more than just a consolidation of resources; it’s about magnifying the strengths of both institutions to enhance member service. Ensuring the financial well-being of our members remains paramount as we navigate through this transition.”
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 Washington Street and 200 N. Rapids Road in Manitowoc, and 309 E. Main Street in Mishicot.
Membership is open to anyone living or working in Manitowoc, Brown, Calumet, Door, Kewaunee, and Sheboygan counties.
