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Michigan Credit Union League

Credit Unions Merge into Community Choice CU and Credit Union ONE

NuPath Community CU has merged into Community Choice CU and Good Shepherd CU will make its merger with Credit Union ONE official in June.

NuPath’s three branches and more than 11,500 members join Community Choice’s nine member centers and 56,000 members to create a combined credit union with $665 million in assets.

The merger has been approved by NCUA, the state Department of Insurance and Financial Services, the boards of the two credit unions, as well as NuPath members.

“Community Choice Credit Union’s history of Giving Big aligns well with NuPath’s mission and vision,” Community Choice President Robert Bava said. “This merger combines our shared values and our strengths so that we can reach more people, make a bigger community impact, offer the latest products and advancements to NuPath’s members and better serve the financial needs of Michigan residents.”

During the first few months of the merger, NuPath’s locations in Wyandotte, Flat Rock and Holland will operate as NuPath, a division of Community Choice Credit Union, with all current NuPath employees joining the Community Choice team. Eventually, the NuPath branches will be rebranded as Community Choice.

NuPath CEO Community Kathryn White is now market development executive for the combined credit union.

The membership of Good Shepherd CU in Lincoln Park voted in March to approve the merger with Credit Union ONE in Ferndale. The merger is expected to be effective on June 30.

The $93 million Good Shepherd CU headquartered in Lincoln Park, plans to merge into $860 million Credit Union ONE. GSCU formed in 1957 and has 8,300 members and two branches in Lincoln Park and Woodhaven.

“Our board recognized that we have a shared commitment and mission of providing great service and member financial success,” GSCU CEO Lisa Cook said. “Merging with Credit Union ONE will allow Good Shepherd Credit Union to provide more products and services to its members, while offering greater job opportunities for its employees. We know this is a good decision, not just in the present, but looking into the future as well.”

Credit Union ONE President/CEO Gary Moody said the Ferndale-based credit union welcomes the decision of the GSCU Board to select CUONE as a merger partner.

“This is a strategic partnership of two strong and well-established institutions,” he said. “We recognize that when combined, we are stronger and more capable of fulfilling our shared vision of financial strength, a sustainable business model and the best service in the industry. The members of both credit unions will benefit from this merger.”

All GSCU employees, including senior management, will be retained by Credit Union ONE. Specific post-merger roles have yet to be determined.

GSCU branches will both become Credit Union ONE branches.

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2015-04-13 00:00:00