- James Townsend
Release: PFCU Receives Final Merger Approval
PFCU, previously Portland Federal Credit Union, announces the completion of the merger with SageLink Credit Union, headquartered in Durand, effective July 1, 2018. As previously announced, the combined credit unions will operate under the name PFCU.
“I am so excited to see this merger come to fruition, this will create wonderful opportunities for our dedicated staff and most importantly, give our membership more access to innovative banking technologies and exceptional hometown service, our members have come to expect.” Said PFCU President/CEO, Harvey Hoskins.
Merger approval from the National Credit Union Administration (NCUA) and Michigan Department of Insurance and Financial Services (DIFS) was the final step in the ongoing merger process between Portland Federal Credit Union and SageLink Credit Union, bringing to close a merger that has been many months in the making.
The combined credit union will have total assets of $533 Million and 13 branch locations covering the following Michigan counties, Kent, Barry, Ionia, Ingham, Shiawassee and Genesee. This will make PFCU the 27th largest credit union in the state with a combined 48,000 members.
In addition to the increase of products and services offered, both credit unions have expressed their excitement about how this merger will provide expanded convenience through a network of locations that will now incorporate the I-69 and I-96 corridor. This will allow members face-to- face service opportunities that extend as far East as Flint and as far West as Caledonia, near Grand Rapids.
As a full service financial institution, PFCU can provide individual checking and savings accounts and auto lending with easy access through a robust indirect lending program partnered with many area dealerships. A variety of mortgage products, credit cards, and business checking and lending as well as financial literacy offerings such as financial coaches and youth focused financial literacy.
Member deposits continue to be protected by the National Credit Union Share Insurance Fund, which is administered by National Credit Union Administration. PFCU is an Equal Housing Lender.
PFCU is a full-service financial institution with thirteen office locations throughout mid- Michigan, over 48,000 members and $533 million in assets. Harvey Hoskins, the CEO, has served the credit union for 27 years. To find out more, visit our website at www.pfcu4me.com.