Better Together

Late last month, the Board of Directors of NuUnion and Detroit Edison Credit Unions approved an intent to merge agreement. The match represents a mutually beneficial partnership that would bring together two individually strong and financially stable credit unions to benefit the memberships of both organizations.

Member Benefits

• Long-term confidence in the strength of their credit union with greater capital.
• Increased operating efficiencies through combined systems and support networks.
• Increased convenience through expanded branch and ATM locations in more communities where members live and work.
• Greater financial resources to provide enhanced best-in-class products and services.

The combined organization will be known as Lake Trust Credit Union. The new name represents the new organization that would stretch from Lake Michigan to Lake Huron and Lake Erie based on the combined fields of membership of both organizations and the continued priority of building strong trust-based relationships with our members.

We're in the early stages of the merger process, which will carry into 2010. A letter was sent to NuUnion members on November 6, 2009 explaining the merger and their opportunity to vote on the agreement (date and time are yet to be determined). And final approval from the state and national regulators, Federal Trade Commission, and Department of Justice is needed.

Be assured NuUnion is not being bought-out or purchased. This match creates great opportunities for two financially stable organizations to take a step ahead for our members.

Answers to your merger questions

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