Michigan's largest credit union has gotten a little big bigger as the Michigan regulator approved its merger with a small partner.
The merger was between Dearborn-based DFCU Financial Federal Credit Union, the state's largest credit union, and Lansing-based CapCom Credit Union. The merged financial institutions have been renamed DFCU Financial and have kept CapCom's state charter. The largest credit union in Michigan will now be state-regulated.
"I am pleased to welcome DFCU Financial to the ranks of Michigan state-chartered credit unions," Commissioner Ken Ross said, "OFIR continues to strive to provide those under our regulatory umbrella with the highest quality financial service regulation."
OFIR approved the merger earlier this month. DFCU Financial will have more than $2 billion in assets and more than 200,000 members.