Birmingham Bloomfield Credit Union in Birmingham and Lakes Community Credit Union in Lake Orion are merging effective Feb. 1 after a vote by the membership on Jan. 11 approved the change. Financial details were not disclosed.
“This expansion is providing additional resources to not only serve members in six vibrant communities, but across the state of Michigan as well,” says Andrew Staley, president and CEO of Birmingham Bloomfield Credit Union.
In August, Birmingham Bloomfield Credit Union partnered with Metro North Federal Credit Union in Waterford Township. The addition of Lakes Community Credit Union will result in a growth of more than 21,000 members, three branches, and assets of about $220 million.
“We are pleased to have found a partner such as Birmingham Bloomfield Credit Union whose shared core values and culture will continue to meet members’ financial needs now and in the future,” says Carolyn Chevrier, president and CEO of Lakes Community Credit Union.
Birmingham Bloomfield Credit Union was founded more than 80 years ago and is a member-owned, not-for-profit financial cooperative. It has locations in Birmingham, Waterford Township, and Holly.
Lakes Community Credit Union has branches in Lake Orion, Waterford Township, and Shelby Township.