Moving forward, existing locations will retain their name and branding, but SageLink Credit Union will become SageLink, a Division of PFCU and after three years, will become PFCU.
Portland Federal Credit Union (PFCU) and SageLink Credit Union have announced their intent to merge, subject to regulatory approvals.
As part of the merger, SageLink Credit Union will change their name to Portland Federal Credit Union.
By merging, the credit union will have total assets of $521 million and 13 branches in Kent, Barry, Ionia, Ingham, Shiawassee, and Genesee and will make PFCU the 27th largest credit union in the state with a combined 46,000 members.
"Helping members is what our credit unions are all about," said Harvey Hoskins, CEO of Portland Federal Credit Union.
"We share similar values and goals with SageLink and through this merger, we will be able to provide expanded products and services to our members, along with the same outstanding service they've come to expect from us over the past 70 years."
Moving forward, existing locations will retain their name and branding but SageLink Credit Union will become SageLink, a Division of PFCU. After three years, it will become PFCU.
"PFCU has a strong reputation in business lending to members that will enhance our lending platform and ability," said Anna Wilson, SageLink CEO. "Moreover, the adoption of technologies that SageLink brings in like, Interactive Teller Machines (ITMs), and the combined product mix and support functions from both entities will allow the credit union to be a significant competitor in Michigan for years to come."
The merger has been unanimously approved by the board of directors of the credit unions and is expected to be completed at the beginning of the third quarter 2018.