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Marine CU gets regulatory approval for branch buy

La Crosse, Wis.-based Marine Credit Union received regulatory approval for its pending acquisition of five Wisconsin branches of Milwaukee-based Bank Mutual Corp.

The branches are located at 6310 Green Bay Road, Kenosha; 5133 Douglas Ave., Racine; 3039 S. Green Bay Rd., Racine; 801 N. 8th St., Sheboygan; and 730 N. 9th St., Sheboygan.

In relation to the deal, the credit union will also acquire $52.6 million in deposits, $13.2 million in loans, and intends to retain the employees working at the branches.

The acquisition will occur on Aug. 25, and the branches will operate as Marine CU on Aug. 28.

Upon completion, Marine CU will have 33 offices, serving over 60,000 members across Wisconsin, Iowa and Minnesota.