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Citizens CU to merge with Lake Michigan CU
KALAMAZOO, Mich. (5/25/10)--Members of Kalamazoo, Mich.-based Citizens CU have voted to merge into Grand Rapids, Mich.-based Lake Michigan CU, pending regulatory approval. Both credit unions' boards had approved the merger proposal earlier (Kalamazoo Gazette May 21). The merger allows Lake Michigan CU to expand its footprint and services with four additional branches in the Kalamazoo area, President/CEO Sandra Jelinski told the newspaper. It will offer a full range of financial services to the new members, including a 4% Max Checking account and low-rate mortgage guarantee. Citizens CU has $60 million in assets and 9,000 members. With the addition of Citizens, Lake Michigan CU will have $2 billion in assets.


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