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News Now

CU System
DFCU Financial CapCom CU merger finalized
DEARBORN, Mich. (3/3/09)--Members of DFCU Financial voted to approve the merger of CapCom CU into DFCU Financial. Of the nearly 40,000 votes cast, 91% voted in favor of the merger. “The vote turnout exceeded our expectations,” said Mark Shobe, president/CEO of DFCU Financial. “This merger will afford us the geographic diversity needed while Southeastern Michigan recovers economically.” “We’re excited to proceed with integration so that CapCom members can begin enjoying our benefits of membership,” said Renee DeMarco, regional president of DFCU Financial and past president/CEO of CapCom. “Immediately, we have increased the interest rates on some of our savings products.” The new DFCU Financial now serves more than 200,000 members with 21 full-service branches--12 in the Detroit area, five in Grand Rapids, three in Lansing and one in Greenville. With about 500 employees, Dearborn, Mich.-based DFCU Financial has $2.4 billion in assets and remains the largest credit union in Michigan and one of the largest in the nation. CapCom, based in Lansing, has $203.2 million in assets.


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