Janesville31.2°

Blackhawk Community Credit Union to close Stoughton branch

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Jim Leute
January 22, 2014

JANESVILLE—In an effort to keep its business closer to its core in Janesville, Blackhawk Community Credit Union plans to close its Stoughton branch sometime this year.

Customers now using the Stoughton branch—built and opened in 2010—will be consolidated into the credit union's branch in Edgerton.

Sherri Stumpf, the credit union's chief executive officer, said the decision to close the Stoughton branch was difficult, but it was based on a careful consideration of market presence and the costs and benefits to the entire membership.

“This decision does not affect Blackhawk's other branches or our dedication to the communities we serve, including Rock County and the Janesville area, and gives way to a continued strategy of investing in technology tools that help members bank with us when and where it is most convenient for them,” Stumpf said.

Founded in 1965 for General Motors employees, Blackhawk is today a $370 million credit union with more than 40,000 members. Membership is open to anyone who lives or works in Rock, Dane, Jefferson, Walworth or Green counties.

The credit union has three offices in Janesville, as well as offices in Edgerton and Delavan. Its products and services include savings, checking, money market accounts, certificates and credit cards, auto loans, mortgages and home equity loans. Investment services also are available.

“What we're trying to do is focus closer to Janesville and our core membership,” Stumpf said, adding the Stoughton branch is in Dane County, where the credit union has no other presence.

Stumpf said the Stoughton branch employs seven people, all of whom will either transition to other Blackhawk branches or take jobs elsewhere. Because of union seniority rights, the end result will be the layoff of two part-time employees at other Blackhawk branches, she said.

“When this all happens later this year, we could very well be in a position where there won't be any layoffs at all,” she said.



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