DEARBORN, Mich. — Some members of Michigan's largest credit union are questioning why their CU would want to merge with a smaller CU still recovering from some sharp development losses.

The nearly $2 billion DFCU Financial credit union, headquartered in Dearborn, and the now almost $218 million CapCom Credit Union, headquartered in Lansing announced their intent to merge last month. Like several other recent Michigan mergers the move would leave DFCU as the surviving credit union but with a state charter. DFCU has been a federal credit union since its founding.

Some DFCU members have questioned the merger after they discovered from NCUA records that CapCom's assets have dropped by roughly $33 million since June of last year. Then CapCom was almost $251 million and has dropped to its current size. Neither credit union mentioned the loss in the merger announcement and CapCom has explained the decline as the result of being caught in a participation in development loan which went bad in Florida. CapCom has not yet said whether the development participation was the same one whose failure snared another Michigan CU, Huron River Area.