MIDLAND, Mich. (2/15/12)--Members of Central Michigan Community FCU, Clare, Mich., voted last week in favor of its merging with Members First CU, Midland, Mich. The continuing credit union will be Members First, effective June 1.
Central Michigan members voted five to one in favor of the merger (OurMidland.com Feb. 13). Michigan's Office of Financial and Insurance Regulation and the National Credit Union Administration already had approved the proposal to merge.
The merger will combine Members First's assets of $191 million and Central Michigan Community's assets of $110 million into a combined $310 million asset credit union serving 30,000 members.
Central Michigan was established in 1948 to serve employees of Clare Manufacturing Co. before expanding into a community chartered credit union. Michigan First was established to serve school employees.