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Two Michigan CUs to merge
MONROE, Mich. (10/5/11)--St. Patrick CU, with $1.9 million in assets, Carleton, Mich., has closed and merged operations with $148 million asset Monroe County Community CU, Monroe, Mich. The two credit unions are merging under a joint operations agreement, according to Mike Newman, president/CEO of Monroe County Community CU, (The Monroe Evening News Oct. 1). The agreement has been approved by the National Credit Union Administration and the state regulator. St. Patrick’s had found it difficult to provide services to its members due to current economic conditions beyond its control, Newman said. St. Patrick’s, with 700 members, primarily served the parish of St. Patrick’s Catholic Church and Grade School in Carleton. Its last day of operations was Friday.


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