Two regional credit union mergers were finalized this week, further strengthening cooperative financial services in the Midwest.
Great Lakes Credit Union (GLCU), based in Bannockburn, Ill., completed its merger with East Chicago Fireman’s Credit Union (ECFCU) on July 31 following member approval and regulatory clearance. ECFCU, a Select Employee Group credit union serving East Chicago firefighters and their families, brings 130 members and $600,000 in assets to GLCU. The ECFCU branch in East Chicago will remain operational, and members will gain access to GLCU’s full suite of digital tools, a 24/7 AI assistant named Olive and expanded shared branching services.
“GLCU is pleased that ECFCU sought us as a merger partner,” GLCU CEO Steve Bugg said. “We’re excited to welcome ECFCU members to the GLCU family.”
Meanwhile, in Michigan, ELGA Credit Union and COPOCO Community Credit Union announced that COPOCO members overwhelmingly approved their merger through mail-in ballots and a special vote on July 21. The merger officially closed Aug. 1, with a system conversion expected by spring 2026.
The combined institution will serve over 108,000 members across 16 branches and manage $1.7 billion in assets. Both credit unions were originally founded in 1951 to serve Consumers Power Company employees.
“This partnership is rooted in a shared commitment to people helping people,” ELGA President/CEO Terry Katzur said. COPOCO Board Chair Meri Sue Engers added, “This merger allows us to bring even more value to our members through expanded services and continued personalized care.”
Both GLCU and ELGA emphasized their commitment to seamless transitions and ongoing communication with members throughout the integration process.
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