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Michigan Credit Union League

OCCU and Vibe Credit Union Announce Intent to Merge

The Board of Directors of Oakland County Credit Union (OCCU) and Vibe Credit Union are pleased to announce their intent to merge. The combined credit union will operate with the name of Vibe Credit Union. Both leaders, Tom Reagan and Allan Kemp McMorris, will continue to lead the credit union. Reagan will serve as CEO and McMorris as president. This exciting new partnership will provide the very best in financial services to the combined membership, employees and local communities.

Each credit union wanted to find a partner that shared a dedication and loyalty to its membership, was similar in employee culture and was financially strong. Vibe and OCCU found they were united in their dedication to their members, employees and community, along with sharing a common vision for the future of the combined credit union.

This partnership will create the 13th largest credit union in the state of Michigan and the 6th largest in Southeast Michigan. The combined credit union will be nearly $1 billion in assets, employ over 250 employees and serve more than 64,000 members.

“As we prepare to meet the long-term needs of our members in the future, we believe combining forces will allow us to better provide for our members and employees,” said Reagan, Vibe’s president/CEO. “We are extremely proud of everything that we have accomplished, and are even more passionate about the new opportunities this partnership will provide for our existing and new members.”

McMorris, OCCU’s president/CEO, is also excited about the new partnership. “OCCU’s recent growth through the Best Source and My Postal mergers has demonstrated the value of strong strategic partnerships. Currently, over 30 percent of our members live outside Oakland County and are seeking an expanded branch network. The combined resources from this partnership will create the 2nd largest number of credit union branches in Oakland County, and a total of 16 branches across Southeast Michigan.”

Oakland County Executive L. Brooks Patterson also expressed his support, “Since 1953, Oakland County Credit Union has supported county workers and their families. I fully endorse this new partnership with Vibe Credit Union that will expand their branch locations to better serve more people and businesses in more communities.”

The combined Vibe Credit Union will continue its commitment to giving back to the communities it serves and will have even more resources moving forward to support the credit union philosophy of “people helping people.”

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2018-04-26 00:00:00