Great Wisconsin Credit Union

Last updated

Great Wisconsin Credit Union
Credit union
Industry Financial services
FateMerged
Successor Summit Credit Union
FoundedSeptember 14, 1935 (1935-09-14)
Defunct2008 (2008)
Headquarters
Madison, Wisconsin
,
United States
Number of locations
9 (until merger)
Website greatwisconsincu.org
Footnotes /references
[1] [2]

Great Wisconsin Credit Union, formerly known as CUNA Credit Union until 2005, was a credit union that was founded on September 17, 1935, in Madison, Wisconsin. The credit union had been started to serve employees of the CUNA Mutual Group and the local community. By 2007, Great Wisconsin Credit Union had approximately 46,000 members and 428 million dollars in assets. [2] As of 2008, the credit union had a total of nine locations throughout Wisconsin. [1] The credit union became defunct in 2008, after a merger with Summit Credit Union.

Credit union member-owned financial cooperative

A credit union is a member-owned financial cooperative, controlled by its members and operated on the principle of people helping people, providing its members credit at competitive rates as well as other financial services.

Madison, Wisconsin Capital of Wisconsin

Madison is the capital of the U.S. state of Wisconsin and the seat of Dane County. As of July 1, 2018, Madison's estimated population of 258,054 made it the second-largest city in Wisconsin by population, after Milwaukee, and the 81st-largest in the United States. The city forms the core of the Madison Metropolitan Area which includes Dane County and neighboring Iowa, Green, and Columbia counties for a population of 654,230.

CUNA Mutual Group is a mutual insurance company that provides financial services to cooperatives, credit unions, their members, and other customers worldwide. CUNA Mutual Group sells commercial and consumer insurance and protection products.

Contents

History

Summit Credit Union merger

On November 29, 2007, Great Wisconsin Credit Union announced a merger with Summit Credit Union under the Summit name. [3] Several months later, on March 17, 2008, Great Wisconsin Credit Union and Summit announced that the merger was cleared by the National Credit Union Administration and the Wisconsin Department of Financial Institutions. [4] The merger was finalized, and took place in the Fall of 2008. This resulted in the creation of the largest credit union in the state of Wisconsin with over 1.1 billion dollars in assets. [5] [6]

Summit Credit Union

Summit Credit Union, founded in 1935, is a credit union that was once based in Madison, Wisconsin, United States. In 2019 they moved their headquarters to a village outside of Madison, Wisconsin named Cottage Grove, Wisconsin. as of 2019, it has 39 locations throughout the state. Summit has more than 192,000 members and $3.6 billion in assets, making it one of the largest credit unions in the state. Summit Credit Union is regulated by the National Credit Union Administration (NCUA) as a federally insured state-chartered credit union. It was officially chartered in 1935 and was assigned NCUA charter number 67190.

National Credit Union Administration Independent federal agency of United States

The National Credit Union Administration (NCUA) is one of two agencies that provide deposit insurance to depositors in U.S. depository institutions, the other being the Federal Deposit Insurance Corporation, which insures commercial banks and savings institutions. The NCUA is an independent federal agency created by the United States Congress to regulate, charter, and supervise federal credit unions. With the backing of the full faith and credit of the U.S. government, NCUA operates and manages the National Credit Union Share Insurance Fund, insuring the deposits of more than 111 million account holders in all federal credit unions and the overwhelming majority of state-chartered credit unions. As of September 2016, there were 5,573 federally insured credit unions, with assets totaling more than $1.38 trillion, and net loans of $957.3 billion. The NCUA exclusively insures credit unions, whereas commercial banks and savings institutions are insured by the Federal Deposit Insurance Corporation.

See also

Related Research Articles

Bradley Center Former arena in downtown Milwaukee, Wisconsin

The Bradley Center was a multi-purpose arena located on the northwest corner of North Vel R. Phillips Ave. and West State Streets in downtown Milwaukee, Wisconsin, United States.

<i>Milwaukee Journal Sentinel</i> newspaper based in Milwaukee, Wisconsin

The Milwaukee Journal Sentinel is a daily morning broadsheet printed in Milwaukee, Wisconsin, where it is the primary newspaper. It is also the largest newspaper in the state of Wisconsin, where it is distributed widely. It is currently owned by the Gannett Company.

American Family Insurance

American Family Insurance, also abbreviated as AmFam, is an American private mutual company that focuses on property, casualty, and auto insurance, and also offers commercial insurance, life, health, and homeowners coverage as well as investment and retirement-planning products. A Fortune 500 company, its revenues were over $9.5 billion in 2017.

Fiserv company

Fiserv, Inc. is a global provider of financial services technology. The company's clients include banks, thrifts, credit unions, securities broker dealers, leasing and finance companies, and retailers. In October 2015, American Banker and BAI ranked the company third by revenue among technology providers to U.S. banks. Fiserv reported total revenue of $5.51 billion in 2016. In summer of 2018, Fiserv obtained the naming rights to the Fiserv Forum, home to the Milwaukee Bucks, for 25 years. Fiserv has been named as 2019 Fortune World's Most Admired Companies, sixth consecutive year it has earned this recognition and 9 times in the last 11 years.

BMO Harris Bank, N.A. is a United States bank based in Chicago, Illinois. It is a member of the Federal Reserve System and operates branches in the states of Illinois, Indiana, Arizona, Missouri, Minnesota, Kansas, Florida, and Wisconsin. BMO Harris Bank has over 600 branches and 1,300 ATMs and employs 14,500 staff in the United States.

U.S. Bank Center (Milwaukee) skyscraper in Milwaukee, Wisconsin

U.S. Bank Center is a skyscraper located in downtown Milwaukee, Wisconsin, noted for being the tallest building in the state of Wisconsin, and the tallest building between Chicago and Minneapolis. Standing 601 feet (183 m) and 42 stories tall, the building has a floor area of 1,077,607 sq ft (100,113.0 m2) and it surpassed the Milwaukee City Hall as both the tallest building in the city and the state. Topped off August 29, 1972, and completed in 1973, it was the headquarters for what eventually became Firstar Corporation from 1973 to 2001. The building was designed by Colombian-Peruvian architect Bruce Graham with James DeStefano of Skidmore, Owings & Merrill, and engineered by Bangladeshi-American structural engineer Fazlur Rahman Khan. As of 2017, the building is home to the headquarters of Foley & Lardner, Robert W. Baird & Company, Sensient Technologies Corporation, and is the Milwaukee office for U.S. Bank, IBM, and CBRE.

Journal Media Group

Journal Media Group was a Milwaukee, Wisconsin-based newspaper publishing company. The company's roots were first established in 1882 as the owner of its namesake, the Milwaukee Journal, and expanded into broadcasting with the establishment of WTMJ radio and WTMJ-TV, and the acquisition of other television and radio stations.

Marshall & Ilsley

Marshall & Ilsley Corporation was a U.S. bank and diversified financial services corporation headquartered in Milwaukee, Wisconsin, that was purchased by Bank of Montreal in 2010.

UW Credit Union

The University of Wisconsin Credit Union is a credit union headquartered in Madison, Wisconsin.

Firstar Corporation was a Milwaukee, Wisconsin-based regional bank holding company that later became U.S. Bancorp, a nationwide bank corporation in the United States. In 2001, Firstar acquired U.S. Bancorp and assumed its name, moving its headquarters to Minneapolis.

Aurora Health Care is a not-for-profit health care system headquartered in Milwaukee and serving eastern Wisconsin. The system has 15 hospitals, more than 150 clinics, and 70 pharmacies. With 32,000 employees, including 1,800 employed physicians, Aurora is Wisconsin's largest home care organization. Since its formation in 1984, Aurora has expanded through partnerships with independent community hospitals and affiliations with physician organizations as well as organic growth by building new hospitals and medical centers. Aurora is a teaching affiliate of the University of Wisconsin School of Medicine and Public Health.

Associated Banc-Corp is a U.S. regional bank holding company providing retail banking, commercial banking, commercial real estate lending, private banking, specialized financial services, and insurance services. It is headquartered in Green Bay, Wisconsin and is the largest bank headquartered in Wisconsin. It has over 230 banking locations serving more than 110 communities throughout Wisconsin, Illinois and Minnesota, and commercial financial services in Indiana, Michigan, Missouri, Ohio, and Texas.

First Citizens Bancshares, Incorporated is a bank holding company based in Raleigh, North Carolina that operates First Citizens Bank. First Citizens operates in 18 states and the District of Columbia in the United States, concentrated in the Southeastern United States, Southern California, and Washington.

Northwestern Mutual Tower and Commons building in Milwaukee, Wisconsin, United States

The Northwestern Mutual Tower and Commons is a 550-foot, 32-story skyscraper in Milwaukee, Wisconsin. On September 25, 2013, Northwestern Mutual unveiled the design for its new office tower. The company's former 16-story building was demolished to make room for the new tower. The new tower was completed in 2017 at an estimated cost of $450 million. The grand opening was on August 21, 2017.

Landmark Credit Union

Landmark Credit Union is a not-for-profit financial cooperative in Southern Wisconsin that is owned by its customer/members.

Wesley Robert Edens is an American businessman and private equity investor. He is a cofounder of Fortress Investment Group and founder of New Fortress Energy, Edens is also a co-owner of the Milwaukee Bucks, a National Basketball Association (NBA) franchise based in Milwaukee, Wisconsin, along with Marc Lasry.

Texas Dow Employees Credit Union

Texas Dow Employees Credit Union (TDECU) is a credit union based in Lake Jackson, Texas, with 40 additional branch offices in Texas. TDECU is the largest Houston-area credit union, and fourth largest in the state of Texas, with over 263,000 members and assets of $3.05 billion as of June 2017. In 2014, they purchased the naming rights to the University of Houston Cougars football stadium, TDECU Stadium.

References

  1. 1 2 "Great Wisconsin Credit Union". Bloomberg Businessweek . Retrieved December 31, 2011.
  2. 1 2 "Merging Credit Unions Agree on KnowledgePortal360 to Facilitate Transition". July 21, 2008. Retrieved December 31, 2011.
  3. ↑ Gores, Paul (November 30, 2007). "Biggest Credit Union planned". Milwaukee Journal Sentinel . Retrieved December 31, 2011.
  4. ↑ "Summit, Great Wisconsin credit union merger wins approvals". American City Business Journals. March 17, 2008. Retrieved December 31, 2011.
  5. ↑ Gores, Paul (July 25, 2010). "Summit ascends to No. 1 in state | Credit union climbs to top through mergers, business growth, plans to continue". Milwaukee Journal Sentinel . Retrieved December 31, 2011.
  6. ↑ "Economy Watch". The Capital Times. June 6, 2009. Retrieved December 31, 2011.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.