Kalamazoo area-based Consumers Credit Union recently began construction on a new branch on 54th Street SW in Wyoming, its sixth office in the Grand Rapids area.
The two-story, 6,145-square-foot office should take six months to complete and features a larger floorplan to support the credit union’s growth in the market.
“We anticipate an increase in demand for consumer loans and mortgages, in particular,” Consumer President and CEO Kit Snyder said. “Lending is one of our greatest strengths, and we are committed to providing the financing options that meet the needs of our community, including businesses.”
Consumers Credit Union presently has 21 offices in a market that stretches across Western Michigan, including Kalamazoo, Battle Creek, Grand Rapids and Holland.
The credit union at the end of the second quarter has more than 96,000 members with $1.15 billion in assets, $909.3 million in deposits, and $999.1 million in total loans that include $121.5 million in commercial loans, according to a quarterly financial report filed with federal regulators.
Consumers Credit Union as of midyear recorded net income of $7.1 million.