FOR IMMEDIATE RELEASE
Charter Bank Eau Claire announces merger and name change
(September 29, 2015) Eau Claire, WI - Effective October 1, 2015 Community Bank Corporation of Chanhassen and Chaska, MN is changing its name to Charter Bank and merging with Charter Bank Eau Claire, located in Eau Claire, Wisconsin. Charter Bankshares, Inc., the parent company for Charter Bank Eau Claire, purchased Community Bank Corporation in July 2008. This acquisition was made to enhance market share and emphasize the values of community banking in these markets. The name change and merger will combine two strong community-focused financial institutions with products, services, and values that complement each other. This union will enhance product offerings, increase lending limits, and better serve the needs of both communities.
As part of the merger, Charter Bank Eau Claire will now have the new legal name of Charter Bank. The name change will be in effect as of October 1, 2015 and all locations will combine customers and products and services in March 2016.
2015 Best Banks to Work For
Charter Bank has been named one of the Best Banks to Work For two years in a row. The full list will be featured in the September issue of American Banker Magazine.
The program, which was initiated in 2013 to identify, recognize and honor the best banks to work for in the nation, is a project of American Banker and Best Companies Group. In all, 50 banks achieved “Best Bank” status in this third year for the program.
To be considered for participation, banks had to fulfill the following eligibility requirements:
- Have at least 50 employees working in the US;
- Be a Commercial Bank, Thrift, Mutual Association, Mutual Savings Bank, Savings and Loan Association or a Savings Bank.
Determining the Best Banks to Work For involved a two-step process. The first step consisted of evaluating each participating bank’s workplace policies, practices, and demographics. This part of the process was worth approximately 25% of the total evaluation. The second part consisted of employee surveys aimed at assessing the experiences and attitudes of individual employees with respect to their workplace. This part of the process was worth approximately 75% of the total evaluation. The combined scores determined the top banks and the final ranking. Best Companies Group managed the overall registration and survey process and also analyzed the data and used their expertise to determine the final ranking.
For more information on the Best Banks to Work For program, visit www.BestBankstoWorkFor.com or contact Jackie Miller at 877-455-2159.
About Charter Bank
An independently owned community bank, Charter Bank operates one location: 1010 West Clairemont Avenue, Eau Claire, Wisconsin. As an Eau Claire banking institution, our headquarters emphasizes that we are local and here to serve our community with local decision-making to benefit our community. As we are pleased to remind our many loyal customers, Charter Bank is “Good For You . . . . . And Our Community, Too!”
Founded in 1980, we were a de novo (new) bank, modestly starting operations in a trailer on Clairemont Avenue. Today, with assets surpassing $560 million, we remain on Clairemont Avenue in an attractive building constructed in 2006 a few yards from where we began. The difference is that now we are the largest community bank in the Chippewa Valley with excellent ratings in the banking industry.
Our growth is the result of our dedication to our customers, providing them financial products which exceed expectations, including our Bright Future membership, College Fund, high-yield savings accounts, and interest-bearing checking accounts.
When one reviews the experience of our lending team, the result is that our lending team has over 200 combined years of lending experience! As a result, we have shown exceptional growth in loan clients and in loan balances.
The foundation of our success, however, is the loyal patronage of thousands of Chippewa Valley residents. For that reason, Charter Bank is a partner with the entire community to work together toward a better future.
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