Griffiths Savings Banks begins the new year as a branch of United Federal Credit Union of St. Joseph, Mich.
Michigan CEO Gary Easterling says he's heard from "maybe five or six" others.
That precedent-setting deal by Michigan’s United Federal Credit Union to merge an ailing Indiana savings bank gained NCUA approval last week and now seems certain to be the model for more to come, its architect says.
The $1.3 billion United Federal Credit Union of St. Joseph, Mich. said last week its proposed–and rare–merger with an ailing Indiana savings bank is on track and could win final regulatory approval by the end of this month, according to the president/CEO of UFCU, Gary Easterling.
The proposed – and rare – merger of a large credit union with a small bank could win final regulatory approval at the end of this month.