Two northern Michigan credit unions will merge

A Traverse City credit union and a Charlevoix credit union are merging, according to recent announcements from both.

Members Credit Union in Traverse City and Bay Winds Federal Credit Union in Charlevoix will be coming together to create a new credit union. That doesn't mean losing staff or locations; the two will just combine to form a larger financial institution under a new name. The merger recently was approved by each credit union's board of directors, citing operation efficiency, cost savings, and greater access for members.

"When the right credit unions partner, the members win. You can expect superior, best-in-class products and services, broadened branch and ATM access, and more user-friendly resources to keep you better connected to your money," is what Bay Winds FCU has to say about the partnership.

The two boards of directors will combine, with Bay Winds' David Leusink as CEO and Members' Andrew Kempf as president. The merger is expected to be effective in 2014.

The new credit union will have 13 branches and more than 75,000 members. Bay Winds has been open since 1957 and has branches in Petoskey, Charlevoix, Boyne City, East Jordan, and Bellaire. Members has locations in Traverse City, Mancelone, Kalkaska, and Manistee.

Writer: Sam Eggleston
Source: Members Credit Union
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