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Michigan Credit Union League

Merger Brings My Postal CU into Oakland County CU

Oakland County CU (OCCU) has absorbed Pontiac-based My Postal CU in a merger that took effect on May 1.

The merger, which combines the $15 million-asset My Postal with the $315 million-asset OCCU, was approved in a unanimous vote by My Postal’s membership on April 18. The boards and management of both institutions also supported the merger, which will incorporate all existing My Postal staff into Oakland County CU.

A joint statement from the two credit unions called the merger “a proactive step that will bring the resource of a larger credit union to reduce the growing risks facing smaller financial institutions today and ensure members receive improved technology, products and services into the future.”

Allan Kemp McMorris, president and CEO of My Postal CU, called the merger “a perfect fit,” adding that expanded product offerings, progressive technology and an extensive branch network will serve the credit union’s members well into the future.

Clarence Cameron, My Postal’s chairman of the board, said the merger combines “our shared values in terms of our commitment to our members, our employees and our communities.”

My Postal began life in 1928 as Pontiac Postal CU. It was the 19th state-chartered credit union to be established in Michigan.

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2016-05-10 00:00:00