A Potential Merger Could Create the Newest Billion-Dollar Credit Union in the U.S.
On Wednesday, two Michigan-based credit unions announced an agreement to pursue a possible merger. If all goes as planned and the merger is approved, it would create the newest billion-dollar credit union in the country.
According to a statement, the boards of directors for the Saginaw, Mich.-based Wanigas Credit Union ($412.9 million, 24,843 members) and Flint, Mich.-based Financial Plus Credit Union ($753.8 million, 55,566 members) announced they have mutually agreed to move forward to pursue a possible merger. The announcement stated the merger would be “contingent upon a successful exploration and integration review, a favorable membership vote and regulatory approval.”
There was no timetable for all of the pieces to come together. If approved, the combined credit union would have more than $1.1 billion in assets, 11 branch locations and roughly 80,000 members
