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Just 10 weeks after announcing plans to acquire two Illinois banks to expand into the Chicago marketplace, the $7.6 billion Michigan State University Federal Credit Union in East Lansing, Mich. said last week it has signed a merger agreement with the $32.1 million Gabriels Community Credit Union in Lansing.
"This merger represents a partnership of being able to continue to provide accessible financial products and services to GCCU members," MSUFCU President/CEO April Clobes said in a prepared statement. "At MSUFCU, we are committed to helping members achieve financial security, and this merger will empower us to provide even more comprehensive financial solutions to GCCU and MSUFCU members, including a much-requested branch location in Jackson, Michigan."
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