PORTAGE — Kenneth Leonard and Ryan Reffitt originally set out to provide small banks and credit unions across Michigan with underwriting and other support services for writing business loans.
Seven credit unions in Michigan plans to open a new trust bank late in the first quarter of 2019 after receiving approval from state regulators.
The proposed formation of a trust bank by seven Michigan credit unions gives new fodder to a long-standing battle in the financial services industry.
Honor Credit Union’s proposed acquisition of Citizens State Bank of Ontonagon has been cancelled, according to a report.
Two pending deals where West Michigan-based credit unions are buying small community banks follow an emerging trend nationally.
Here is the MiBiz Growth Report for June 26, 2017:
Here is the MiBiz Growth Report for June 12, 2017.
GRAND RAPIDS — Michigan State University Federal Credit Union’s plan for a downtown office brings another player into the market as Michigan credit unions enjoy a period of strong growth.
BERRIEN SPRINGS — Two pending mergers with smaller credit unions would extend Honor Credit Union into the Battle Creek and Kalamazoo areas.