Ignite CU Unveils New Acquisition Plan of Latvian Heritage FCU
The plan comes after Ignite finalized its merger with BlueOx CU earlier this summer.
The Grandville, Mich.-based Ignite Credit Union has been very busy this year with securing and executing acquisition and merger plans. On Tuesday, the $154 million Ignite announced it has plans to acquire the Grand Rapids, Mich.-based Latvian Heritage Federal Credit Union ($3 million in assets, 332 members).
Tuesday’s announcement from Ignite comes on the heels of the completion of its merger with Battle Creek, Mich.-based BlueOx Credit Union on July 1.
“We are very excited about the possibilities that partnering with Latvian Heritage Federal Credit Union will bring,” said Kristopher Lewis, CEO of Ignite Credit Union. “We are both dedicated to supporting the financial well-being of our members and communities. By joining forces, we can create greater value and opportunities for those we serve.”
John Rikans, president/CEO of Latvian Heritage FCU added, “We believe that this partnership will strengthen our mutual commitment to serving our communities and fostering a sense of financial empowerment among our members. We are truly excited about the benefits that expanding our resources will bring to our members and communities.”
The acquisition must be approved by Latvian Heritage FCU’s members. Ignite did not indicate when that vote will take place.