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Two Michigan credit unions formed in the same year to serve local power company employees and their families announced plans to merge on Thursday.

The Boards of Directors and leadership teams for the Grand Blanc, Mich.-based ELGA Credit Union ($1.5 billion in assets, 98,406 members) and the Bay City, Mich.-based COPOCO Community Credit Union ($104 million in assets, 8,686 members) said they agreed on the merger plans and will join the two organizations pending regulatory and membership approval.


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