Members First of Midland to take over Central Michigan of Clare after five-to-one approval vote from smaller CU.
The postmortem on last month’s two failed merger attempts that were victims of member opposition hits on three ingredients: poor communications, a rushed timetable and lack of enough advance explanation to constituents and the public.
Valley Federal Credit Union of Billings, Mont., has announced the selection of Michael Silvers as the credit union's next president/CEO, effective Jan. 23.
In this Print Preview from next week's edition, industry experts look behind the recent rejection of proposed mergers in Louisiana and Montana.
The chairman of the $63 million Montana First Credit Union, whose members three weeks ago shot down a merger bid from an out-of-state suitor, said Friday that his credit union plans to try again.
In a rare case of reversals, two proposed credit union mergers–one an interstate pact in the Northwest and the other involving Louisiana CUs–were called off last week as a result of member opposition.
Pocatello credit unions to combine on Feb. 1 following successful member meeting on Wednesday.
In addition, culture differences among employee groups must be carefully considered to avoid missteps, according to a key participant and an industry consultant.
Montana First CU won't become part of Horizon CU of Spokane Valley, Wash., members decide.
Montana Credit Unions for Community Development in a bid to provide members access to certified financial counselors and financial coaches.