PFCU, formerly Portland Federal Credit Union, has announced the completion of the merger with SageLink Credit Union, which is headquartered in Durand, effective Sunday, July 1. As previously announced, the combined unions will operate under the name PFCU.
“I am so excited to see this merger come to fruition. This will create wonderful opportunities for our dedicated staff, and most importantly, this will give our membership more access to the innovative banking technologies and exceptional hometown service our members have come to expect,” said PFCU President and CEO Harvey Hoskins.
Merger approval from the National Credit Union Administration (NCUA) and Michigan Department of Insurance and Financial Services was the final step in the ongoing merger process between Portland Federal Credit Union and SageLink Credit Union, bringing the months-long merger process to a close.
The combined credit union will have total assets of $533 million and 13 branch locations covering the Michigan counties of Barry, Genesee, Ingham, Ionia, Kent and Shiawassee. This will make PFCU the 27th largest credit union in the state, with a combined 48,000 members.
In addition to the increase of products and services offered, both credit unions have expressed their excitement about how this merger will provide expanded convenience through a network of locations that will now incorporate the I-69 and I-96 corridors. This will allow members face-to-face service opportunities that extend as far east as Flint and as far west as Caledonia, near Grand Rapids.
As a full service financial institution, PFCU can provide individual checking and savings accounts, and auto lending, with easy access through a robust indirect lending program partnered with many area dealerships. A variety of mortgage products, credit cards, and business checking and lending, as well as financial literacy offerings such as financial coaches and youth-focused financial literacy.
Member deposits continue to be protected by the National Credit Union Share Insurance Fund, which is administered by the NCUA. PFCU is an Equal Housing Lender.