LANSING, Mich. — Two Lansing area credit unions have announced merger plans.
The $22-million Lansing Postal Community CU said it will merge into the $640-million LAFCU pending a vote by members of LPCCU on March 14.
“After months of research, planning and analysis, we are extremely pleased to announce Lansing Postal Community Credit Union and LAFCU are moving forward with plans to join forces in a strategic merger,” said Jason Smith, LPCCU CEO/general manager. “The result will be an even better credit union for our members.”
Smith noted consolidation of postal services from Lansing to other locations in Michigan has led to a significant decrease in the number of U.S. Postal Service employees at the Collins Road facility.
Pending member approval, the merger will take place on or after April 1. The combined entity will serve approximately 63,000, with 10 branches in Ingham, Clinton, Eaton and Shiawassee counties, in Michigan.
The credit unions said LPCCU’s branch at 4600 Collins Road in Lansing will remain open and no jobs are expected to be lost due to the merger.
“This merger brings together two strong, financially sound credit unions,” said LAFCU CEO Patrick Spyke. “We are truly honored that LPCCU chose LAFCU as its partner, and we stand ready to provide members more access points and enhanced service offerings.”