FERNDALE, Mich.—Members of St. Joseph Mercy Pontiac Hospital FCU have approved a merger with Credit Union ONE here.
The $12-million St. Joseph has one office located inside the Medical Building at the St. Joseph Mercy Oakland Hospital in Pontiac, Mich. The CU’s 2,500 members are primarily employees and family members of the hospital. The $870-million Credit Union ONE will operate inside the hospital, calling that location St. Joseph Mercy Financial.
“Their long history of service to healthcare employees, operating branches in hospitals, and the overall breadth of products and services impressed our board,” said SJMPHFCU Board Chairman Nick Nickolopoulos. “Add to this, Credit Union ONE’s financial strength, commitment to improving our branch, and a desire to retain some form of a name connected to the credit union and hospital, and we knew we were making a good decision for our members and future members.”
Nickolopoulos will serve on the Credit Union ONE board.
“This merger perfectly fits our strategic focus on serving the life sciences community,” said Gary Moody, CEO of Credit Union ONE. “We plan to leverage name recognition and member loyalty through the use of the assumed name, and a project is underway to move to a new, more accessible, and member-friendly site within the hospital. We see tremendous upside potential once this merger is completed.”