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Michigan Credit Union League

PFCU Receives Final Merger Approval

On July 1, PFCU, previously Portland Federal Credit Union, announced the completion of its merger with SageLink Credit Union, headquartered in Durand. As previously announced, the combined credit unions will operate under the name PFCU.

“I am so excited to see this merger come to fruition,” said Harvey Hoskins, PFCU’s president/CEO. “This will create wonderful opportunities for our dedicated staff and most importantly, give our membership more access to the innovative banking technologies and exceptional hometown service they have come to expect.”

Merger approval from the National Credit Union Administration (NCUA) and Michigan Department of Insurance and Financial Services (DIFS) was the final step in the process between Portland Federal Credit Union and SageLink Credit Union, bringing to close a merger that has been many months in the making.

The combined credit union will have total assets of $533 million and 13 branch locations covering Kent, Barry, Ionia, Ingham, Shiawassee and Genesee counties. This will make PFCU the 27th largest credit union in the state, with a combined 48,000 members.

In addition to the increase of products and services offered, both credit unions have expressed excitement about how the merger will provide expanded convenience through a network of locations that will now incorporate the I-69 and I-96 corridor. This will allow members face-to-face service opportunities that extend as far east as Flint and as far west as Caledonia, near Grand Rapids.

As a full service financial institution, PFCU can provide individual checking and savings accounts and auto lending with easy access through a robust indirect lending program partnered with many area dealerships. The credit union will also provide a variety of mortgage products, credit cards and business checking and lending, as well as financial literacy offerings such as financial coaches and youth-focused financial literacy.

Member deposits continue to be protected by the National Credit Union Share Insurance Fund, which is administered by National Credit Union Administration. PFCU is an Equal Housing Lender.

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2018-07-06 00:00:00