NOW:53122:USA01012
http://widgets.journalinteractive.com/cache/JIResponseCacher.ashx?duration=5&url=http%3A%2F%2Fdata.wp.myweather.net%2FeWxII%2F%3Fdata%3D*USA01012
68°
H 82° L 68°
Foggy | 0MPH

Landmark Credit Union Files Papers for Acquisition of Hartford Savings Bank

Sept. 26, 2012

Landmark Credit Union has filed applications with federal and state regulators to acquire Hartford Savings Bank, a state chartered mutual savings bank headquartered in Hartford. The bank has more than $190 million in assets, approximately 10,000 customers and branch locations in Hartford, Juneau and Hubertus.

Landmark Credit Union has branch locations throughout the area, including Wauwatosa (3600 N. 124th St.), Brookfield (13600 W. Greenfield Ave.), New Berlin (2775 S. Moorland Rd.), Waukesha (2400 N. Grandview Blvd.) and Hartland (801 Cardinal Lane).

Although Landmark has completed 10 credit union mergers in the last three years, this is its first transaction with a bank. Pending regulatory approvals, the parties plan to complete the transaction by the end of 2012.

“Our institutions are strikingly similar in our mutual memberships, shared beliefs in excellent customer service and focus on employee satisfaction and community involvement,” says Ron Kase, CEO of Landmark Credit Union. “In addition, our broader offering of products and services will bring a variety of benefits to the area. We’re a leading mortgage lender in Waukesha and Milwaukee counties and the largest auto lender in southeastern Wisconsin so we’re looking forward to meeting the lending, saving and investment needs of the bank’s current customers and all residents of Dodge and Washington counties.”

Discussions between the financial institutions began in June and quickly led to an agreement between the two CEOs and their respective board of directors. Since then, Landmark Credit Union has been completing the necessary paperwork required by the National Credit Union Association (NCUA), Federal Deposit Insurance Corporation (FDIC) and Wisconsin Department of Financial Institutions: Office of Credit Unions and Banking Division.

Landmark intends to keep all three branch locations and add Hartford Savings Bank’s 40 employees to its staff. Although the bank’s CEO and Chairman of the Board, Ken Braun, had previously planned to retire from active management in January 2013, he will stay on a community board of directors that will be established as part of the transaction. He’ll also maintain an office at the bank’s Hartford headquarters at 1400 Schauer Dr.

Tom Haley, the bank’s President and COO, will join Landmark Credit Union as its Regional President/Chief Risk Officer and continue to work from the bank’s headquarters. Haley’s position is a new one for Landmark and reflects the increase in size of the institution. Landmark Credit Union is also evaluating Hartford as a location for a future regional center that would handle a range of administrative functions.

Landmark will continue the community commitments Hartford Savings Bank has with the Schauer Arts & Activities Center, Medical Center Foundation of Hartford, The Hartford Area Foundation and numerous other organizations.

“The acquisition of Hartford Savings Bank allows us to strategically expand our branch locations and better serve all customers within our charter area,” says Kase. “We continue to execute on our brand promise, which is to bring consistent value and convenience to our members. We do this with great rates on loans and deposits and excellent service. And, we continue to offer free checking accounts and products and services with no or low fees. We work hard so our customers can truly benefit from the value that only a credit union delivers.”

Landmark currently serves customers in Washington and Dodge counties from branch locations in Germantown, West Bend and Watertown.

“One of the many positives of this acquisition is that we’re a strong, successful Wisconsin financial institution that’s keeping jobs in the area. We also have a track record of involvement and commitment to the communities we serve,” adds Kase.

With $2 billion in assets, Landmark Credit Union is the largest credit union in the state of Wisconsin. It has 489 employees who serve more than 195,000 customers at 24 locations throughout southeastern Wisconsin. In 2011, Landmark Credit Union was named #2 in the nation for strong brands, among credit unions of $1 billion or more, by Bancography, Inc. a Birmingham, Alabama banking industry analyst.

This site uses Facebook comments to make it easier for you to contribute. If you see a comment you would like to flag for spam or abuse, click the "x" in the upper right of it. By posting, you agree to our Terms of Use.

Suburban News Roundup

E-mail Newsletter

Your link to the biggest stories in the suburbs delivered Thursday mornings.


Enter your e-mail address above and click "Sign Up Now!" to begin receiving your e-mail newsletter
Get the Newsletter!

Login or Register to manage all your newsletter preferences.

Community Watch

» Whitefish Bay hands Lancers, Kennedy opening-night defeat 8/22

» Preps football photos of the week: Aug. 22 8/22

» Anthem College closes its Brookfield campus, stranding 150 students 8/22

» Town Police warns against fake bills 8/22

» Chick-fil-A celebrates National Lemonade Day with free samples in Brookfield, Greendale 8/19

» Brookfield police warn against phone scam 8/19

» Severson earns easy victory over challenger 8/13

» Eric Severson wins landslide vote for Waukesha County sheriff Updated:  8/12

» Police identify Elm Grove mountain biker who died during race 8/12

» Police look for help in search for robbery suspect 8/12

» Large portion of Barker Road to close 8/6

» Video: How to navigate construction surrounding the 2014 Wisconsin State Fair 7/30

» Waukesha County Executive Dan Vrakas holding virtual Town Hall meeting on Twitter 7/30

» Top 10 things to see and do at the Wisconsin State Fair 7/29

» Brookfield Central turns back Homestead for state title, 9-2 7/25

» Lancers romp to state title, 9-2, over Homestead 7/25

» Lancers nip Plymouth, 2-1, move on to state finals 7/25

» Lancers win sectional title, first trip to state since 2001 7/21

» Menomonee Falls baseball team beats BC in GMC third place game 7/10

» Lancers late rally falls short; drop 4-2 decision to Hamilton 7/9

» Light industrial development in works for Brookfield 7/9

» Blood donations: Mosquitoes are feasting on Milwaukee-area residents 7/7

» Sustachek's no-hitter lifts Oak Creek baseball team to GMC title 7/3

» Brookfield to pick up tree damage 7/2

» Falls complicates GMC race with 5-2 win over Brookfield Central 7/1

View All Posts Got a tip? Welcome rss
Deal Watch - Milwaukee

Milwaukee's Best Discounts & Deals

Local Business Directory

CONNECT