Displaying items tagged: United Federal Credit Union

Lenders head toward spring expecting further hikes in interest rates and with increased prospects for a mild economic recession beginning later this year.

People in the News: A roundup of new hires, promotions and awards in West Michigan.

Here is the MiBiz People in the news report for April 25, 2022 

The new year could bring a continued acceleration of M&A in the banking industry.

Given all that’s occurred in the past 20 months, Krista Flynn considers the present lending environment a pleasant surprise.

Borrowing could cost a little more in 2022 should the Federal Reserve follow expectations and begin raising interest rates.

Lake Michigan Credit Union will gain a larger presence along Florida’s Gulf Coast with the acquisition of a community bank.

Raising the number of authorized shares by 25 percent gives ChoiceOne Financial Services Inc. greater ability to pursue another acquisition should the opportunity arise.

ST. JOSEPH — Edgewater Bank branches become part of United Federal Credit Union next week following federal regulatory and shareholder approvals of a merger between the two.

ST. JOSEPH — The proposed acquisition of Edgewater Bancorp Inc. would give United Federal Credit Union greater expertise to further grow commercial lending.

ST. JOSEPH — United Federal Credit Union would broaden its footprint in Southwest Michigan with the planned acquisition of Edgewater Bancorp Inc.

The sheer volume of small businesses that have sought federal relief loans illustrates the depth and scope of the economic pain brought on by the COVID-19 pandemic.

BENTON HARBOR — A new campaign aims to stanch Berrien County’s population losses and attract thousands of new residents over the next decade. 

Here is the MiBiz Growth Report for Aug. 19, 2019:

BENTON HARBOR — As real estate activity picks up in Southwest Michigan, officials in the Benton Harbor area are hoping a developer will take interest in renovating a historic downtown building. 

United Federal Credit Union plans to buy a former Whirlpool Corp. office building in St. Joseph for its new corporate headquarters.

ST. JOSEPH — United Federal Credit Union’s opening of two offices this summer in South Bend and Mishawaka follow the organization’s plan to build a broader presence in the northern Indiana market.

Two pending deals where West Michigan-based credit unions are buying small community banks follow an emerging trend nationally.

Chris Mason and his partners wanted to use a local lender when they sought a loan to start their business in Stevensville, just north of the Indiana border in Berrien County. 

PARCHMENT — Advia Credit Union’s proposed acquisition of Mid America Bank, a small community bank in southern Wisconsin, is the kind of deal that occurs infrequently in the financial services industry.

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.