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Variety of Factors Led to Michigan CDCU Merger

Financial services experience, location among reasons cited as Inspire Community Development Credit Union gives up the fight in Battle Creek.

By David Morrison | Updated on September 17, 2012

A number of different things led to the merger on Monday of the two-year-old Inspire Community Development Credit Union of Battle Creek, Mich., with the 72,000-member, $685 million First Community Credit Union of Parchment, Mich., its former chairman said.

That included the community development credit union’s difficulty in finding and keeping strongly qualified leadership, not having enough profitable products, having high loan defaults and having the main street in front its primary interest closed for more than a year, according to Nancy Macfarlane, former chairman of Inspire’s board of directors.

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