The $94.7 million Rivers Edge Community Credit Union in Allen Park, Mich., plans to merge with the $414 million Co-op Services Credit Union in nearby Livonia, Mich., by the end of the year.

“I'm very excited about the opportunities this partnership will provide both our memberships. This is very much a win-win for all of our members and the communities we serve,” said Thomas Fisher, president/CEO of RECCU.

Though RECCU's net worth is at 12%, its loan, fee and investment income has seen steady declines over the last five years, according to NCUA financial performance reports from the suburban Detroit credit union.

Loan income has fallen from $3.6 million in 2008 to $2.4 million in 2012, while fee income has dropped from $1.5 million to $1.1 million and investment income has declined from $726,782 to $555,817, in the same time period, NCUA financial performance reports show.

 “Our credit unions are very similar,” Anthony Carnarvon, Co-op Services CU's president/CEO. “Both have a long history and strong commitment to providing members with the best in financial products and services available.”

If the merger is approved by RECCU's members and regulators, the combined cooperative will have more than $500 million assets and serve over 61,000 members.