NCUA Media Release

First Service Credit Union Merges; Members Now Served by Marine Credit Union

 

January 5, 2010, Alexandria, Va. -- The National Credit Union Administration (NCUA) announces today that First Service Credit Union, of Milwaukee, Wisconsin, merged with Marine Credit Union, of Fond Du Lac, Wisconsin, effective December 31, 2009. Members of First Service are now members of and receive credit union service from Marine Credit Union.

The new Marine Credit Union members experienced no interruption in service. Marine Credit Union member accounts are insured up to at least $250,000 by the National Credit Union Share Insurance Fund (NCUSIF), a federal entity operated by NCUA.

Originally chartered as Falk Credit Union in 1934, the merged credit union changed its name to First Service Credit Union and converted to a community charter and in the 1980s. At the time of merger, First Service served members living and working in the Wisconsin counties of Milwaukee, Ozaukee, Washington and Waukesha.

Marine Credit Union is a state-chartered, federally insured institution headquartered in Fond Du Lac, Wisconsin. Chartered in 1949 to serve the employees of Mercury Marine Division of Brunswick Corporation, the credit union has assets of $400 million with more than 52,000 members located throughout the United States.

The National Credit Union Administration is the independent federal agency that charters and supervises federal credit unions. NCUA, with the backing of the full faith and credit of the U.S. government, operates the National Credit Union Share Insurance Fund (NCUSIF), insuring the savings of over 90 million members in all federal credit unions and most state-chartered credit unions. NCUA operations are funded by credit unions, not tax dollars.