Two financial institutions in the area have announced that they are in the process of merging.
Kohler Credit Union and Shipbuilders Credit Union issued a joint news release in which they explained that the merger was approved by both institutions’ boards of directors, and both agreed to operate under the name Kohler Credit Union.
Mike Steimle, the Interim President and Chief Executive Officer of Shipbuilders Credit Union, said the deal was “propelled by optimism and an unwavering dedication to our members.”
Tony Klockow, the President and Chief Executive Officer of Kohler Credit Union, said 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.”
Shipbuilders Credit Union enters the merger valued at $116 million and serves Manitowoc, Brown, Calumet, Door, Kewaunee, and Sheboygan Counties.
Kohler Credit Union is valued at $615 million and serves Sheboygan, Calumet, Fond du Lac, Manitowoc, Milwaukee, Ozaukee, Washington, and Waukesha Counties.
