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Michigan Credit Union League

Credit Union ONE and Hantz Bank to Merge

On May 4, Credit Union ONE announced its intent to merge with Hantz Bank, a Michigan state-chartered bank headquartered in Southfield. Upon completion of the merger, Credit Union ONE will have approximately $1.4 billion in assets and 26 branch locations in Metro Detroit, Ann Arbor, Grand Rapids and Traverse City.

“We are excited to welcome the clients and employees of Hantz Bank to Credit Union ONE,” said Credit Union ONE’s president/CEO, Gary Moody. “This merger creates significant opportunities to expand our market presence and accelerate long-term growth plans, especially in the commercial and mortgage lending arenas.”

Credit Union ONE has had a long relationship with Hantz Group, a provider of a comprehensive range of financial planning, tax, insurance and investment services, and Hantz Bank, a separately operated community bank. Hantz Group will continue to provide its services to the members of Credit Union ONE, and the clients of Hantz Group will have their consumer and commercial banking needs met by Credit Union ONE.

“Our post-merger relationship with Hantz Group leverages the strengths of both organizations to create a truly unique financial services experience for their clients and our members,” said Moody.

“After years of collaboration, this merger clears a path for our shared vision of a seamless experience for our clients and advisors,” said Hantz Bank’s chairman, John Hantz.

After the merger is complete, Credit Union ONE and Hantz Group will further expand their partnership, including plans to operate some branches under the name Hantz Credit Union.

“Scale is essential to successfully grow, and combining the talents and resources of Hantz Bank with those of Credit Union ONE creates both the scale and expertise to deliver such outcomes,” said Hantz. “We look forward to completing the merger and shifting our focus to the opportunities presented by our ongoing relationship.”

This merger is subject to regulatory approval and is expected to close later this year.

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2018-05-10 00:00:00