Two West Michigan Credit Unions Merge; Become Compass Credit Union
Rogue River Community Credit Union announced their pending merger with Newaygo County Service Employees Credit Union, to become Compass Credit Union.
Led by soon to be Compass president and CEO and current president and CEO of RRCCU, Erika Garrison-Bauer, this merger will expand membership 30 percent with a combined total of more than 9,000 members and assets of over $67 million.
With this merger, NCSECU will broaden under Compass to become community chartered — anyone who lives, works, worships or attends school in any of the eleven counties that border Kent and Newaygo will be able to become a member of Compass.
This begins a new chapter for these long standing financial institutions, introducing a revitalized brand that seeks to be better situated to work with growing communities in the Sparta and Fremont areas. Compass will be positioned to be versatile and flexible for both its members and for future mergers.
“This rebranding and merger represents the next phase for RRCCU and NCSECU; by pooling resources, the newly named Compass will be able to expand more offerings to our members” said future Compass president and CEO Erika Garrison-Bauer. “We look forward to additional expansion and growing with new partners as this will allow us to reduce imposed fees on members and help us better serve new and existing communities.”
“Since Compass will be a not-for-profit institution, we are going to be able to pour all of our resources back into the areas we serve,” said NCSECU manager, Dennis Greeno. “With increasing regulatory demands on credit unions, it is essential that the next generation of smaller and mid-sized CU’s unite so that we can continue to offer higher interest rates on savings, lower interest rates on loans, and meet the technological demands of our membership. This merger is one step toward that future.”Go to main navigation