LOC Credit Union and Advantage One Credit Union Announce Intent to Merge
LOC Credit Union, headquartered in Farmington, and Advantage One Credit Union, headquartered in Brownstown Township, have announced their intent to merge, pending a favorable vote by Advantage One Credit Union members.
The decision to pursue a merger was unanimously approved by each Credit Union’s Board of Directors in late 2025 following months of conversation.
If approved, the combined organization would exceed $750 million in assets and serve more than 47,000 member accounts. The credit union would retain the Advantage One Credit Union name while continuing to serve the entire state of Michigan. Headquarters would remain in Farmington.
The merged credit union would operate nine branch locations, including two in Dearborn and one each in Brighton, Brownstown, Farmington, Howell, Hartland, Southgate and Taylor.
Leadership for the combined organization would include current LOC Credit Union President and CEO Stephen Grech, who will continue as CEO until his anticipated retirement date. Advantage One Credit Union President and CEO Chris Corkery will serve as President. The senior leadership teams from both credit unions will continue to support the combined organization.
Employees of both organizations would have access to expanded career opportunities, with no job reductions resulting from the merger.
“This merger allows us to deliver products and services in a more efficient manner while enhancing the overall experience for our members through an expanded retail banking footprint,” said LOC Credit Union Board Chairperson Paul Renko. “Both credit unions are on the same core processing and digital banking systems, which will lead to a more seamless integration and provides opportunities to achieve economies of scale while also leveraging our state-wide field of membership.”
Advantage One Credit Union Chairman Richard Lindemann added, “While both credit unions are financially strong and considered well-capitalized, our industry continues to demonstrate a need for fast-paced growth in technology. We also recognize that as technology evolves, so do the expectations that our members have of us. We believe LOC Credit Union shares similar beliefs and strategy as ours to help us remain competitive.”
A vote by Advantage One Credit Union members is expected to take place this summer. System and brand integration are anticipated for May 2027.
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