Maurice “Maury” Dresang died Monday at age 90.
He was the patriarch of Neighborhood First Credit score Union, which he based because the Appleton Neighborhood Credit score Union in 1975 and grew to be the third largest credit score union within the state.
On Wednesday, his spouse Cathie Tierney, CFCU’s president and CEO, stated Dresang will be remembered as a visionary who treasured his credit score union members.
“He was an entrepreneur, and was all the time on the lookout for new methods to perform issues,” she stated. “He really had a ardour for service.”
The credit score union’s new Fox Crossing headquarters opened in 2017 with a tribute to him. It is on a brand new avenue known as Dresang Approach.
“The board wished to honor the one that began all of it,” stated Tierney in an interview on the time the constructing opened. “He began the corporate out of the trunk of his automotive, actually, and now it is virtually a $3 billion establishment.”
The credit score union’s belongings have since crossed the $3 billion threshold and had been $3.1 billion on the finish of 2018. It has 137,000 members in central and northeast Wisconsin.
Dresang was in end-stage renal failure whereas the new headquarters was below building, however had seen the constructing and attended the road’s dedication.
“He was delighted and honored,” Tierney stated.
In Put up-Crescent interviews over time, Dresang stated he’d began with $90,000 in belongings in 1975 and by no means dreamed of reaching even $1 billion, which he achieved in 2008.
Dresang petitioned the state legislature to vary legal guidelines permitting credit score union mergers, and by combining 13 credit score unions into one, he engineered the most important merger of credit score unions within the nation in 1978.
“Once we lastly reached $100 million (in 1989), we felt we had actually made it,” he stated.
Dresang retired as president and CEO in 1993, and people roles had been then assumed by Tierney.
For years, the couple was a fixture at the Neighborhood First Fox Cities Marathon, all the time holding the end line banner.
A memorial service will likely be held at 11 a.m. Saturday at Valley Funeral Dwelling, 2211 N. Richmond St. in Appleton. Visitation will likely be from 4 to 7 p.m. Friday and from 9 to 11 a.m. Saturday.
A full obituary will run in Friday’s Put up-Crescent.
Contact Maureen Wallenfang at 920-993-7116 or firstname.lastname@example.org. Observe her on Twitter at @wallenfang.