Superior Choice Credit Union Merges With Dairyland State Bank
Institutions Will Have $480 Million Combined in Assets
SUPERIOR, Wis.-Superior Choice Credit Union and Dairyland State Bank have announced a merger agreement has been finalized between the two financial institutions.
Pending regulatory approval, the acquisition will create a combined financial institution that will have more than $480 million in assets. Closing is expected to occur in the third or fourth quarter of 2018. The two will operate under the name of Superior Choice Credit Union.
Employees between the two organizations will be retained as they will now serve nearly 35,000 customers. There will be 12 branches between northwestern Wisconsin and northeastern Minnesota.
Credit Union President Gary Elliott, who has been with the credit union since 2005, will continue to lead the combined organization.
“We are ecstatic to welcome Dairyland State Bank to our credit union,” said Elliott. “As a locally-owned community bank, we know that the values of Dairyland State Bank are already closely aligned with the values that we champion as a member-owned credit union. While SCCU will grow in numbers and in branch locations, we will remain committed to serving our membership by offering low loan rates, high deposit rates, and member-focused services.”
Both financial institutions have a long history of serving residents in northwestern Wisconsin. Superior Choice Credit Union was first chartered in 1932 while Dairyland State Bank was started in 1902.