A merger of the $32.8 million Eaton County Educational Credit Union in Charlotte, Mich., into the $2.3 billion Michigan State University Federal Credit Union in East Lansing will take effect April 1.
The credit unions announced the proposed merger in November. Earlier this month, 95% of ECECU members who voted approved of the merger, according to MSUFCU.
After the two credit unions combine their operations in April, ECECU will officially merge into MSUFCU. ECECU’s staff will continue as MSUFCU employees. Additional employees have been hired to support expanded hours and services at the ECECU branch in Charlotte, Mich.
“MSUFCU and ECECU have a shared commitment to helping members achieve financial success, and we are excited for the new opportunities this merger provides for members of both credit unions,” said Patrick McPharlin, MSUFCU’s president/CEO.
MSU Federal Credit Union, the world’s largest university-based credit union, operates 11 branches, serves169,020 members and employs more than 490 people.