The credit unions at the University of Michigan and Eastern Michigan University are now one institution after consummating a merger earlier this year.
Eastern Michigan University Credit Union officially became a part of University of Michigan Credit Union in January. EMU’s Credit Union will now be known as Eastern Michigan University Financial. U-M Credit Union will keep its branding. Members of both will now have full access to all of the newly combined credit union's branches in Ann Arbor, Ypsilanti and Dearborn.
"It's not a growth strategy," says Jeff Schillag, vice president of marketing at
University of Michigan Credit Union. "It's truly a collaboration."
The newly merged credit union will have $545 million in assets and 59,342 members. All of those members will have equal access to affordable financial services, mobile banking, and instant issue debit and credit cards.
Eastern Michigan University Financial will maintain its branch at 761 Jenness St. in Ypsilanti with its current staff. It will continue to employ its namesake university's brand in its name as a point of pride for the EMU community.
"We intend to keep the branding there to better serve that community," Schillag says.
Source: Jeff Schillag, vice president of marketing at University of Michigan Credit Union
Writer: Jon Zemke
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