JACKSON, Mich. –Two Michigan credit unions said they are now moving forward with finalizing a merger and introducing a new name.
Members of Washtenaw FCU in Ypsilanti, Mich., have voted in favor of merging into the $566-million CP Financial Credit Union, formerly known as CP FCU.
The two credit unions will operate under a new name, TRUE Community Credit Union, which will become effective on Jan. 1, 2021.
According to the two CUs, plans include combining both teams of CPFCU and WFCU and retaining all staff as well as expanding membership eligibility under a state charter open to anyone who lives, works, worships or attends school in the state of Michigan.
TRUE Community Credit Union will have more than 63,000 members, $600 million in assets and will serve 12 branches located in Jackson, Ingham and Washtenaw counties.
Chrissy Siders, current CEO of CP Financial CU, will serve as president/CEO of the combined, operation, while Jason Matley, current CEO of WFCU, will serve as EVP- strategy and transformation.
‘A Strong Commitment’
“I can’t think of a better partner than Washtenaw Federal Credit Union,” said Siders. “We share a strong commitment to inspiring and caring for our members, communities, and each other. I am confident this partnership will be beneficial for everyone involved as we provide additional products, services, locations and opportunities for existing and potential members and employees. We can’t wait to continue writing our story and to truly impact the communities and people in this great state.”