BLOOMFIELD HILLS, Mich. — In a merger of equals, T&C Federal Credit Union and USA Credit Union, announced plans to form the fourth largest credit union in Michigan, Genisys Credit Union.
T&C has $611 million in assets with 65,000 members, and USA has $609 million in assets and 64,000 members. Genisys will total more than $1.2 billion in assets and will rank in the top 85 nationally in members and in the top 100 in assets.
USA CU President/CEO Mary McDonald said that talk of a merger between T&C and USA started over a year ago. McDonald will stay on as president for the transition but then retire in 2009. T&C President/CEO Dianne Addington will be chief executive officer of Genisys.
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