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GRAND RAPIDS – Lake Michigan Credit Union announced today that Citizens Credit Union of Kalamazoo will merge with the organization.

The merger was approved by the directors of both organizations and a vote of Citizens Credit Union members on May 15 and will now move forward for regulatory approval.   

Citizens Credit Union had been investigating potential partnerships to strengthen their ability to serve.

“It was very important to our membership to find a credit union that shared our values and goals of operational excellence,” Robert J. Goscicki, president and CEO of Citizens Credit Union, stated in a release. “We are very pleased with the results of our membership vote and their support of the merger. We all look forward to this partnership, and the opportunities for us to become one.”

“This merger allows us to expand our footprint and services in Kalamazoo to a loyal base of Citizens members,” Sandra Jelinski, president and CEO of LMCU, stated in a release. “The branches will immediately be operating on our strong financial foundation when the merger is complete.

Following the merger, Lake Michigan Credit Union will increase their branches by four, add $60 million to its assets, and increase its membership base by 9,000.  The combined organization will have $2.0 billion in assets, 169,000 members, and 30 branch locations across West Michigan.

The merger proposal moves to the State of Michigan Office of Financial and Insurance Regulation and is expected to be approved this month.

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