Displaying items tagged: Lake Michigan Credit Union
Here is the MiBiz Growth Report for April 4, 2016:
• M&A: Cuyahoga Falls, Ohio-based Americhem Group acquired Vi-Chem Corp. of Grand Rapids, according to a statement. Vi-Chem is a supplier of plastic compounds for injection molding, extrusion and blow molding applications. Its customers include companies in the automotive, medical and industrial sectors. Terms of the deal, which closed March 18, were not disclosed. Americhem, a manufacturer of color and additive plastic compounds for the polymer industry, will maintain Vi-Chem’s Grand Rapids operations, where the company employs 85 people.
Lake Michigan Credit Union in Grand Rapids and Kalamazoo-based Consumers Credit Union ranked among the 50 best-performing credit unions in the U.S. for 2015.
Lake Michigan Insurance Agency of Grand Rapids has added to its geographic service area with the acquisition of Traverse City-based Bonner Insurance Agency Inc.
Many credit unions recorded 2015 loan growth in the double digits, said Kenley Penner, a partner and the head of Plante Moran PLLC’s credit union practice. Penner attributes the results and lending growth to a “relatively strong” housing market that’s driving mortgage originations, coupled with strong sales volumes for both new and used vehicles.
A mega merger of two West Michigan credit unions has been called off. Instead of joining operations, Lake Michigan Credit Union in Grand Rapids and St. Joseph-based United Federal Credit Union will remain independent entities.