Plans to merge MSU Federal Credit Union, or MSUFCU, and Eaton County Educational Credit Union, or ECECU, are almost finalized. Mergers from both credit unions received approval from regulatory agencies Monday.
ECECU members must approve the transfer in February.
This proposal began when ECECU started having financial difficulties after its CEO retired.
Executive Vice President and spokesperson for MSUFCU April Clobes said this proposal is the best scenario for both credit unions.
“By merging with MSUFCU (and) ECECU, members still can be served, and most of the workers can keep their jobs,” Clobes said. “There are already about 11,000 MSUFCU members in the Eaton County area, so this will benefit them in having a branch in their local area.”
Clobes also said if the proposal is approved, it likely will not affect MSUFCU student customers, and no additional branches will be added on campus.
“The only addition of buildings we are adding is a branch location in Charlotte, which is 20 miles down I-69 South,” Clobes said. “This merging was mainly done to help the Eaton County members get the service they need.”