LANSING, Mich.—Members of Lansing Postal Community Credit Union (LPCCU) members, the area’s first credit union, are now part of LAFCU following a merger.
“The LPCCU Board of Directors and I are gratified that members recognize the benefits of joining forces with LAFCU,” said Jason Smith, former LPCCU CEO/general manager, who is now LAFCU vice president of product and strategy. “LAFCU delivers its expansive offering of financial services with the same high-quality care LPCCU members have come to expect.”
LPCCU members green-lighted the merger via a vote March 14, and both entities have since been working to consolidate operations. The boards of directors for both credit unions first recommended the merger December 2017. The merger received regulatory approval January 2018 and required a majority approval of LPCCU members to become effective.
“We are honored that LPCCU members have confidence LAFCU can meet their financial needs,” said LAFCU CEO Patrick Spykes. “This strategic merger brings together two strong, financially sound credit unions that, together, are stronger and well positioned for the future.”
The former LPCCU members now have access to LAFCU’s expanded suite of mortgage products and its unique financial technology applications, such as fraud monitoring, interactive teller machines (ITMs), Smart Offices connecting branches with LAFCU headquarters via audio and visual communication, and a digital invoicing-and-payment accounting tool for businesses.
LPCCU’s former branch, 4600 Collins Road in Lansing has been updated inside and out and is now a LAFCU branch, bringing its network to 10.
LPCCU’s approximate $22 million in assets and nearly 2,800 members bring the combined total assets to approximately $670 million and total membership to nearly 63,000.