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Summit Credit Union Enters Into Agreement To Purchase Monroe Branch Of Associated Bank

September 23, 2020 undefined New location to be financial cooperative’s 46th in WisconsinMADISON, Wis. — Summit Credit Union has entered into an agreement with Associated Banc-Corp to purchase Associated Bank’s Monroe, Wisconsin branch and deposit accounts located at 1420 11th Street in Monroe, Wisconsin. Loans and other non-deposit product relationships will be retained by Associated Bank.Following the anticipated approval of the purchase by the appropriate state and federal agencies, Summit expects deposit accounts to transition to Summit Credit Union in the first quarter of 2021. Customers of the Monroe branch will receive a letter from Summit Credit Union shortly providing them with additional information about the change.The existing Monroe location will remain open and employees will become employees of Summit Credit Union.Summit has been part of the fabric of Southern Wisconsin since our founding as CUNA Credit Union in 1935. Since then, we’ve grown to more $4.3 billion in assets, more than 205,000 members and 662 employees across 46 locations throughout south-central and southeastern Wisconsin. Summit is Southern Wisconsin’s No. 1 mortgage lender* and the largest credit union lender of SBA loans to small businesses in Wisconsin."We’re excited to grow our presence in south-central Wisconsin, adding the Monroe community to our growing branch network,” said Summit CEO & President Kim Sponem. **“**Our vision is to help our members enable their dreams, achieve financial wellness and lead richer lives. Operating with the core credit union philosophy of people helping people, Summit is committed to exceptional member service, satisfaction of its employees and commitment to financial education,” added Sponem.The Monroe location brings Summit’s total to 46 branches across southern Wisconsin.Summit Credit Union was advised on the transaction by Dan Martin of McQueen Financial Advisors and Mike Bell of Honigman, LLP.*#1 mortgage lender based on the number of mortgages recorded with counties' registers of deeds.