Great Lakes Credit Union picks merger partner
NEWS-SUN STAFF REPORT April 6, 2013 12:14PM
Updated: June 7, 2013 2:23AM
Great Lakes Credit Union announced last Friday a merger with Hawthorne Credit Union that is based in Naperville and Bolingbrook.
Officials said the merger brings the opportunity for GLCU to spread into new counties and deeper into suburban Cook County, diversifying its membership demographic to all counties in the Chicago area. Currently, Great Lakes has facilities in North Chicago, Gurnee and Libertyville.
GLCU will now have assets of $630 million and serve more than 52,000 members in Lake, McHenry, DuPage, Kane, Kendall, Will and parts of Cook counties in Illinois, plus Kenosha County in Wisconsin.
“GLCU is very excited that our two credit unions will merge to form a bigger, stronger financial institution,” said Vikki Kaiser, president/CEO of Great Lakes Credit Union. “We feel that combining resources with Hawthorne Credit Union will be an asset for all members. We will continue to stress the importance of member convenience during this transition.
“GLCU will remain committed to the tradition of developing innovative products and services which we believe relevant to both current and new members,” she added. “There are things that Hawthorne CU does better and things that GLCU does better, and we hope to combine the efforts of both credit unions to create the best practices of both worlds.
Carl Sorgatz, CEO of Hawthorne Credit Union, said “the decision to merge is the result of a desire to provide our members with the best financial services possible.”
“We are merging to offer a more extensive range of products, increased level of service, and the added convenience of improved account accessibility.” Sorgatz said. “Great Lakes Credit Union has strong ‘member focus’, leadership and vision for the future, and will help us achieve our goals and allow us to help our membership grow financially.”