October 27, 2015

LMCU and United Federal Credit Union to merge

Largest merger in credit union history

Lake Michigan Credit Union and St. Joseph-based United  Federal Credit Union jointly announced their intent to merge on Wednesday, October 14, 2015.

“I am extremely pleased to announce the merger of these two highly regarded credit unions,” said Sandy Jelinski, president and chief executive officer of Lake Michigan Credit Union. “This is an exciting opportunity for the employees and members of both organizations to build the absolute best credit union in the country.”

Gary Easterling, president and chief executive officer of United Federal Credit Union, added, “We view this as a tremendous opportunity for our employees and our members to combine with another great organization that will significantly expand our potential for mutual future success.”

Once merged, the combined organization does not anticipate any changes to staffing or branch offices. The Board of Directors and senior management from both organizations will remain in place and their combined leadership will set the tone for superior service and future growth for the merged organization. Sandy Jelinski will serve as the president and chief executive officer of the merged credit union. Gary Easterling, has previously announced his pending retirement, but will remain involved during the transition. The existing operating locations will retain their current name and branding, with United Federal Credit Union becoming United Credit Union when the merger is complete and both credit unions are consolidated under the LMCU state charter.

The intent to merge has been unanimously approved by the board of directors of both credit unions and is expected to close by the end of the year, subject to customary closing conditions, including regulatory and other approvals.