Community Choice Credit Union is merging with NuPath Community Credit Union, creating a larger metro Detroit-based financial institution that will carry on under the Community Choice Credit Union’s banner.
The newly expanded credit union will now have 67,000 members across Michigan and $665 million in total assets. The merger with NuPath Community Credit Union
will open up the downriver market to Community Choice Credit Union
, along with other locations across Michigan.
"Downriver certainly is an area that is a good fit for us," says Alan Bergstrom, senior vice president & chief marketing officer for Community Choice Credit Union. "NuPath also has a branch in Holland, which was attractive to us. We have been looking at going from a strictly metro Detroit credit union to serving other areas of Michigan."
NuPath Community Credit Union has three branches in Wyandotte, Flat Rock, and Holland. Those branches and the credit union’s employees will be folded into the Community Choice Credit Union's workforce. The new credit union now employs about 200 people.
Community Choice Credit Union will now have 13 branches after the merger. The Farmington Hills-based credit union recently opened a new branch in Northville near Six Mile and Haggerty roads. It is also in the process of building out another new branch in Shelby Township that is set to open early next year. The 80-year-old credit union is also looking to execute more mergers, one of which is currently in the works.
"Based on our strategic plan, we have a pretty aggressive growth plan in place," Bergstrom says. "That includes mergers."
Source: Alan Bergstrom, senior vice president & chief marketing officer for Community Choice Credit Union
Writer: Jon Zemke
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