The $2.7 billion DFCU Financial CU of Dearborn, Mich., announced it has filed an application with regulators to merge the $181 million MidWest Financial FCU of Ann Arbor, expanding its field of membership in southeast Michigan with five branches in Ann Arbor and Ypsilanti.
DFCU said it hopes to complete the membership and regulatory approval process by Oct. 1 and final computer conversion by next March.
MidWest, with a 7.7% capital ratio, had recorded a $1.5 million loss in 2009 on top of a $1.1 million loss in 2008. It narrowed its losses in the first quarter to $19,243.
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