The $1.9 billion United Federal Credit Union in St. Joseph, Mich. said Oct. 13 it intends to merge into the $3.8 billion Lake Michigan Credit Union.
The proposed consolidation will make Lake Michigan CU the largest cooperative in the Great Lakes state and one of the top 20 credit unions by assets and members in the nation.
Sandy Jelinski, president/CEO of the Grand Rapids, Mich.-based Lake Michigan CU, will serve as the president/CEO of the merged credit union. Gary Easterling, who announced his retirement in April, will remain involved during the transition, according to a joint prepared statement.
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