Michigan United Credit Union in Birmingham and Unity Credit Union in Warren announced a merger effective Aug. 1, after a vote by the membership on July 24 made it official. The financial terms of the transaction were not disclosed.
MUCU was formed when Birmingham Bloomfield Credit Union Lakes Community Credit Union and Metro North Credit Union merged between 2019 and 2020. The most recent merger will increase MUCU’s membership to 25,000 account holders and raise its assets to approximately $340 million.
“We are excited for the direction the credit union is heading. This expansion is providing additional resources to not only serve members in more vibrant communities, but across the State of Michigan as well,” says Andrew Staley, president and CEO of Michigan United Credit Union.
All Unity Credit Union branches will remain, and all employees will keep their current jobs. Both credit unions are committed to meeting the evolving needs of the membership, and the merger allows access to more resources to continue to grow.
“We are pleased to have found a partner such as Michigan United Credit Union whose shared core values and culture will continue to meet members’ financial needs now and in the future,” says Dennis Moriarity, president and CEO of Unity Credit Union.