Kohler Credit Union and Shipbuilders Credit Union jointly announce their intent to merge.
In a strategic move aimed at fortifying financial strength, enhancing member experience, and broadening community impact, Kohler Credit Union and Shipbuilders Credit Union jointly announce their intent to merge, subject to regulatory approval and membership vote. The merger has been approved by both credit unions’ boards of directors. The combined entity will operate under the name Kohler Credit Union.
The proposed merger brings together two financially healthy and distinguished financial institutions rich in history. United by common principles and bolstered by mutually reinforcing strategies, they will establish a credit union that is strategically positioned to deliver substantial value to both their combined members and broader community.
Tony Klockow, President and Chief Executive Officer of Kohler Credit Union stated, “As our journey unfolds, the merger of Kohler Credit Union and Shipbuilders Credit Union emerged organically, driven by the presence of our existing branch and a compelling opportunity for growth. 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.”
“This merger is propelled by optimism and an unwavering dedication to our members. It signifies more than just a consolidation of resources; it’s about magnifying the strengths of both institutions to enhance member service. Ensuring the financial well-being of our members remains paramount as we navigate through this transition,” said Mike Steimle, Interim President and Chief Executive Officer of Shipbuilders Credit Union.
Kohler Credit Union is a $615 million not-for-profit, financial cooperative, owned and governed by its members. Membership is open to anyone who lives or works in Sheboygan, Calumet, Fond du Lac, Manitowoc, Milwaukee, Ozaukee, Washington or Waukesha County; as well as their immediate family members and associations or organizations.
Shipbuilders Credit Union is a $116 million not-for-profit cooperative that provides its members with comprehensive, personalized and convenient service. There are three local branches: 2001 Washington Street and 200 N. Rapids Road in Manitowoc, and 309 E. Main Street in Mishicot. Membership is open to anyone living or working in Manitowoc, Brown, Calumet, Door, Kewaunee, and Sheboygan counties.
