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15 Dec, 2021
By Rica Dela Cruz
The board of Madison, Wis.-based Dane County CU announced a proposal to partner with Madison, Wis.-based Heartland CU to form a $600 million credit union under the latter's name.
The anticipated partnership will occur in the first quarter of 2022, subject to the approval of Dane County CU members.
The combined credit union will adopt the Heartland CU name and serve 37,000 members in greater Madison and southwestern Wisconsin with 11 branches and 150 employees. Heartland CU, a midsize credit union with $390 million in assets, serves 22,000 members in 28 counties in Wisconsin, Iowa and Illinois.
The board of the combined credit union will expand to nine member volunteers, with three from Dane County CU and six from Heartland CU. Additionally, one associate board position will be filled by Dane County CU.
Heartland CU CEO Sally Dischler will become CEO of the combined credit union. Dischler will retire in 2022, at which time Heartland CU President Angela Hanson will become president/CEO. Dane County CU CEO Shay Santos will fill the COO role.
The account transaction processing systems of both credit unions will be unified in October 2022.
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