August 29, 2022
EAU CLAIRE, Wis. – Royal Credit Union (Royal) announces that its partial acquisition of Lake Area Bank in Minnesota is complete. The acquisition includes retail offices in Hugo, Stillwater and White Bear Lake as well as Lake Area Mortgage in Arden Hills. Member accounts were converted August 27-28 and the offices opened as Royal Credit Union on August 29, 2022.
“The acquisition offered Royal the opportunity to bring our values and community involvement to an area of Minnesota that is a logical connection between our current Metro area offices and our St. Croix Valley offices,” said Brandon Riechers, Royal Credit Union President & CEO. “Royal’s investment in these new locations will expand our ability to serve our Members in Minnesota and will strengthen our commitment as a dynamic community partner and trusted financial.”
All new Members were mailed a personal welcome guide explaining the transition process and outlining the benefits of being a Royal Credit Union Member. Office locations and hours of operation are as follows:
Hugo:
- Address: 14602 Everton Ave. North, Hugo, MN 55038
- Lobby Hours: 8:30 a.m. – 5 p.m. weekdays and 9 a.m. – 12 p.m. Saturdays
- Drive-up Hours: 8 a.m. – 5 p.m. Monday through Thursday, 8 a.m. – 5:30 p.m. Fridays and 9 a.m. – 12 p.m. Saturdays
Stillwater:
- Address: 5795 Minnesota Ave. North, Stillwater, MN 55082
- Lobby Hours: 8:30 a.m. – 5 p.m. weekdays
- Drive-up Hours: 8 a.m. – 5:30 p.m. weekdays and 9 a.m. – 12 p.m. Saturdays
White Bear Lake:
- Address: 1400 E. Hwy 96, White Bear Lake, MN 55110
- Lobby Hours: 8:30 a.m. – 5 p.m. weekdays and 9 a.m. – 12 p.m. Saturdays
- Drive-up Hours: 8 a.m. – 5:30 p.m. weekdays and 9 a.m. – 12 p.m. Saturdays
Lake Area Mortgage Center:
- Address: 1200 West County Road East, Ste. 200, Arden Hills, MN 55112
- Lobby Hours: 8:30 a.m. – 5 p.m. Monday through Thursday and 8:30 a.m. – 4:30 p.m. Fridays
The grand opening celebrations for the offices will begin on Monday, September 19, 2022. During the weeklong celebration, Members and community residents are invited to visit the offices to enjoy special treats, learn more about the credit union, and enter a drawing for large gift baskets filled with Minnesota themed products and certificates from local small businesses.
About Royal Credit Union
Royal Credit Union is a federally insured credit union proudly serving over 260,000 Members in Minnesota and Wisconsin. Royal is driven by a core ideology built on a strong purpose and values. You can open an account or apply for a low-rate loan at Royal Credit Union if you live or work in 26 counties in western Wisconsin or 16 counties in Minnesota. Counties served in Wisconsin include Adams, Ashland, Bayfield, Barron, Buffalo, Burnett, Chippewa, Clark, Douglas, Dunn, Eau Claire, Jackson, Lincoln, Marathon, Pepin, Pierce, Polk, Portage, Price, Rusk, Sawyer, St. Croix, Taylor, Trempealeau, Washburn, and Wood. Counties served in Minnesota include Anoka, Carver, Chisago, Dakota, Goodhue, Hennepin, Isanti, Olmsted, Pine, Ramsey, Scott, Sherburne, Wabasha, Washington, Winona and Wright. A complete list of Member eligibility requirements is available on the Royal Credit Union website. To learn more about Royal, visit rcu.org or call 800-341-9911.
