Two suburban Detroit credit unions, the $55 million Trenton FCU and the $81 million Wyandotte FCU, announced Monday they are merging effective Oct. 1 with Trenton continuing.
A membership vote is slated this week at the SEG-based Wyandotte. The combined CU, to be named Shore to Shore Community FCU, will have more than 21,000 members and five offices.
"This is a merger that has been in the talking stages for more than a year and unites two credit unions that have done well," declared Jon Looman, president/CEO of the community-chartered Trenton. Looman will become CEO of the consolidated CU with Kathryn White, currently CEO of Wyandotte, as president.
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Trenton was chartered in 1953 to serve Chrysler, while Wyandotte, formed in 1980, has served employees of BASF Corp., the chemical firm.
Both CUs are reporting profits in the first half.
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