Two Michigan Mergers Under Way
Merger activity in Michigan picked up steam this week with separate consolidations being sought with state agencies.
In a proposed $300 million combination, the $191 million Members First CU of Midland seeks to merge the $110 million Central Michigan Community CU of Clare.
Separately, the $161 million United Community Bay CU of Bay City has applied to merge the $27 million Access First CU of Mattawan.
Officials of Members First said the CU would make no comment on the deal right now. Executives at United or Access had not responded by press time.
The Michigan Office of Financial and Insurance Regulation confirmed Central Michigan’s application was filed Dec. 1 while United Community Bay filed on Nov. 8.