SCCU finalizes acquisition of NW Wisconsin bank
Superior Choice Credit Union announced Tuesday that its merger with Dairyland State Bank has been finalized, pending regulatory approval.
The acquisition allows SCCU to grow to a $480 million credit union serving more than 35,000 members with 12 branches throughout Northwestern Wisconsin and Northeastern Minnesota.
Closing is expected to occur in the third or fourth quarter of this year, and the two financial institutions will legally become one entity, operating under Superior Choice Credit Union’s name and charter.
Existing employees of both organizations will be retained. Gary Elliott, SCCU president and CEO, will continue to lead the combined organization. Dairyland State Bank customers will become SCCU members.
Dairyland State Bank President Robert Hegeholz said SCCU’s community roots makes the credit union a perfect fit for Dairyland’s customers.
The next step for the newly combined financial institution will be to fully integrate operations, products, services, policies and technology.
Dairyland State Bank offices are located in Bruce, Exeland, Sheldon, Gilman, Holcombe and Hayward in Wisconsin.
Superior Choice Credit Union currently operates six branches in five cities: Superior, Ashland and Mellen in Wisconsin, along with Duluth and Hermantown in Minnesota.