NuUnion Credit Union announced today it is in the process of merging with Detroit Edison Credit Union. Once the merger is complete, the new name would be Lake Trust Credit Union.
The institutions describe themselves as strong and stable, but say a merger create operational efficiencies and even "greater financial strength and resources."
Some regulatory hurdles have to be overcome before the merger is finalized. It will put the new institution in the top 1% of credit unions nationwide and the fourth largest credit union in Michigan in terms of asset size.
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