There have been plenty of legal bumps along the way before the$240 million American 1 FCU can complete the mergers of twostruggling Detroit- area counterparts, the Jackson, Mich., CU saidFriday.
As part of the deal, American 1 is switching to a state charterto accommodate field-of-membership hurdles in connection with nextmonth's takeover of the $10.9 million Michigan Services CU ofSouthfield, the credit union announced Thursday.
Earlier in the week American 1 formally effected a merger of theailing $55 million Premier Financial CU of Detroit.
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