Two Michigan CUs Receive Approval to Merge

The $83.6 million Allegan Credit Union and the $77 million Rivertown Community Federal Credit Union received regulatory and membership approval to merge as of Jan. 1, 2023.

According to an announcement earlier this month, the Allegan, Mich.-based Allegan and the Grandville, Mich.-based Rivertown Community will operate under one unified brand, but will keep their individual brand names.

The statement announcing the merger said, “Both organizations will continue to serve their members at their individual branch locations as they ramp up efforts to have Rivertown Community Federal Credit Union to be fully integrated in early 2023.”

Existing Rivertown Community branches will be designated as “Rivertown Branches” and Rivertown members won’t see any disruption as operations should be “business as usual.”

Kristopher Lewis, who serves as president/CEO of both credit unions, said, “I want to thank the members, board members and employees of Rivertown Community Federal Credit Union for their commitment to their credit union. We are excited to continue to serve our members in the same capacity they have grown to love. Our future looks very bright with this new partnership and we are committed to serving our members, employees and communities with excellence for many years to come.”

The merged credit union will have combined assets of roughly $160 million, and will serve nearly 14,000 members with five branches in Western Michigan.