United Financial Credit Union will be merging the $34 millionConsumers Choice CU on Jan. 1. Both credit unions are based inSaginaw, Mich.
|The merger caps years of discussions between the two CUs andfollows a Consumers decision to expand its service menu, saidJessica Gwizdala, director of marketing and training at the $115million United Financial.
|“Consumers Choice has an older membership of many savers andfewer borrowers and so its management felt it was not big enough tocontinue on its own and needed to find a partner,” saidGwizdala.
|The 4,200 members of Consumers Choice approved the merger planDec. 2 with a 75% favorable vote. Consumers Choice, organized toserve a Michigan energy firm, has one office.
|The combined entity will serve 20,000 with a total of sixbranches in Saginaw and Bay counties. Consumers Choice has 12.25%net worth though it lost $96,000 in 2009 and $74,000 through thefirst three quarters of 2010.
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