PORTLAND, Mich.—Portland Federal Credit Union and SageLink CU have announced their intent to merge.
SageLink Credit Union will merge into Portland FCU, which has applied for state charter and will be changing its name to become PFCU, the CUs stated in a joint release.
The combined credit union will have total assets of $521 million, 46,000 members and 13 branches covering six Michigan counties.
“Helping members is what our credit unions are all about,” said Harvey Hoskins, CEO of Portland FCU. “We share similar values and goals with SageLink, and through this merger we will be able to provide expanded products and services to our members, along with the same outstanding service they’ve come to expect from us over the past 70 years.”
“PFCU has a strong reputation in business lending to members that will enhance our lending platform and ability,” said SageLink CEO, Anna Willson. “Moreover, the adoption of technologies that SageLink brings in, like interactive teller machines and the combined product mix and support functions from both entities, will allow the credit union to be a significant competitor in Michigan for years to come.”
The existing SageLink operating locations will retain their current name and branding, with SageLink Credit Union becoming, ‘SageLink – A Division of PFCU,’ for an interim time of up to three years from the merger date, and ultimately becoming PFCU.
Hoskins will remain CEO and Willson will join the PFCU executive team, the CU stated.