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w w w . i n s i g h t o n b u s i n e s s . c o m A p r i l 2 0 14 • I nsIgh t | 35 [continued] » headquartered in neenah. e Lakeview merger with CitizensFirst and Best Advantage will provide more convenient service for members who commute across what had been the territories of the three. "I was surprised at how many people we have who live in the Fox Cities work in Oshkosh, or the other way around. now it will be much more convenient for them to run down the street to their credit union," he adds. e three also complement each other when it comes to loans and deposits. Lakeview and Best Advantage, based in Brillion, have more money than loans, while CitizensFirst has a lot of loans and is looking for more money. e average age of members is over 50, so the credit unions want to appeal to younger people who need loans – meeting their needs while also providing income for older customers who have money but aren't doing such heavy borrowing for cars or mortgages. "e whole financial market is so different from 20 years ago," he adds. "We have to work really hard to stay relevant to older members who have been with us a long time and provide the liquidity to make those loans. We have more of a stretched view than ever before in our history." e combined organizations will have an easier time supporting necessary, but expensive, services like mobile banking, which is almost a requirement for attracting and retaining younger members. Tri-merger unusual Kevin Ralofsky, president and CEO of CitizensFirst Credit Union in Oshkosh, says the three-way merger is unusual because it involves three strong credit unions, rather than the takeover of a failing credit union by a stronger one. "e exciting thing about this is that it is a merger of choice where all three partners approached this as a strategic partnership," he adds. "is historic merger will be the first of its kind in the state of Wisconsin, according to the Department of Financial Institutions." All three credit unions are working together through "We got together and decided this was a great opportunity for expansion without spending on bricks and mortar. We are both highly capitalized and this will be two solid organizations coming together." – A l a n Z i e r l e r, w h o w i l l b e c o m e C E O o f C a p i t a l C r e d i t U n i o n a f t e r i t m e r g e s w i t h P i o n e e r Tired of the Insurance game yet? mcclone.com (800) 236-1034 7 Convenient Wisconsin Locations