OSHKOSH, Wis.—Verve, a Credit Union, is set to merge with Two Rivers Community CU toward the end of 2015—Verve's fourth merger in two years.

Formerly known as CitizensFirst, Verve rebranded earlier this year. Last year CitizensFirst conducted a three-way merger, joining forces with Best Advantage and Lakeview CUs, all of which were healthy and profitable institutions. Earlier this year it also absorbed La Crosse, Wis.-based Community Credit Union, a merger which is still pending regulatory approval.

The merger with TRCCU must still be approved by the Wisconsin Department of Financial Institutions, Office of Credit Unions, as well as NCUA. The CU's membership voted in favor of the merger unanimously, with 46 of its 701 members voting.

The $7 million TRCCU lost more than $73,000 last year, and has just $2.2 million in loans on the books, 75% of which is concentrated in real estate lending.

Two Rivers President Fran Honzik said in a statement that not only will Verve allow the CU to offer an expanded suite of products and services, but that the cultures of the two institutions were also a match.

"Success for both credit unions has stemmed from a commitment to community and a readiness to adapt," said Honzik. "Together we'll take these ideas to the next level."

For Verve, president and CEO Kevin J. Ralofsky said that the Two Rivers merger is a continuation of its efforts to create "a model for future credit union partnerships."

"The model is coming to life as we begin work with TRCCU," he said. "Seeking out strong financial partners who are aligned with our same values will empower us to serve our members and communities at the level our members deserve. This is the type of service that creates an environment where all participants can thrive and allows us to open our doors for generations to come."

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