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Information About Royal Credit Union For Lake Area Bank Customers

This page contains information about Royal Credit Union and frequently asked questions

Once regulatory approval is obtained, account conversion information will be mailed to Lake Area Bank customers. Royal will be sending detailed conversion information to address many specific questions. Thank you for your patience!

We're Here To Make Things Easy For You

As Royal awaits regulatory approval and works to complete the acquisition of Lake Area Bank, this page will provide updates and important information for Lake Area Bank customers. We will post updates to this page as they become available.

What To Expect During The Acquisition

After full regulatory approval is obtained, Royal will be sending communications by mail to all Lake Area Bank Customers. We will be mailing detailed information about the transition process, including the conversion of Lake Area Bank accounts to Royal accounts.

General Acquisition Questions

What if I have a question about the Lake Area Bank acquisition? Many specific details will be shared in our Welcome Booklet, which will be mailed to all Lake Area Bank customers after full regulatory approval is obtained. Additional communications will also be provided closer to the conversion date to answer other questions. If you have questions after reviewing our welcome materials, please use the contact form on this web page or call 800-341-9911.

Can Lake Area Bank customers join Royal Credit Union before the acquisition is complete? Yes, Lake Area Bank customers are welcome to join Royal before the acquisition is complete by opening an account through our normal process. However, upon regulatory approval and the subsequent closing of the acquisition, all Lake Area Bank customers will become Royal Members when accounts are converted with no action required, so opening a Royal account before then is not necessary. 

During the acquisition, will account numbers stay the same? As part of the Lake Area Bank acquisition, Lake Area Bank customers will receive new Royal Credit Union account numbers, checks, debit cards, and other account materials. All loans will also have new Royal account numbers. More account specific questions are answered in our  mailed Welcome Booklet.

What happens if I am a customer of Lake Area Bank and a Member of Royal already? If you already have accounts at both Lake Area Bank and Royal Credit Union, your Lake Area Bank accounts will be added as new accounts in Royal’s system. You will keep your existing Royal Member Number and your added accounts will automatically appear (separately from any existing Royal accounts) in online or mobile banking. 

During the Lake Area Bank acquisition, when will Royal's rates apply to Lake Area Bank accounts? Account-specific information, including detailed rate comparisons, will be mailed to Lake Area Bank customers before the conversion takes place. Generally, deposit accounts excluding certificates will begin earning interest at Royal’s rates as soon as you become a Royal Member. Certificates will continue to earn interest at their original rate until they mature, and then earn interest at Royal’s rates if renewed. Loan interest rates will generally remain unchanged unless the loan is refinanced with Royal. Credit card accounts are not part of the acquisition and will not be changing. 

Will all Lake Area Bank customers become Royal Credit Union Members? Once regulatory approval is obtained and the transition is complete, all Lake Area Bank customers will become Royal Members.

More About Royal

Royal Credit Union provides personalized service to our Members from offices across West Central Wisconsin and the Twin Cities Metro in Minnesota. As a Member-owned financial cooperative, we return earnings to our Members in the form of better rates on deposits and loans plus more free or low-fee account services.

  • Royal has over 20 office locations. Find an office.
  • We participate in a nationwide network of shared ATMs to provide surcharge-free access to 40,000+ ATMs. Find an ATM.
  • We offer a full suite of accounts and loans to meet your personal banking needs. We also offer business accounts and loans.
  • We have lots of online and mobile tools to make managing your account easy. We have a mobile app with check deposit, Bill Pay, real-time account alerts, a virtual assistant on, and so much more.


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Royal Credit Union At A Glance

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220K+ Members

We have thousands of Members in Minnesota, Wisconsin, and beyond

23 Offices

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40,000+ ATMs

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