BROWNSTOWN, MI (July 20, 2026) |
Merger Highlights:
The combined credit union will:
- Be the 36th largest credit union in the state of Michigan.
- Have nearly $750 million in assets.
- Serve more than 45,000 member accounts.
- Continue to serve the entire state of Michigan.
- Use the Advantage One Credit Union name but maintain headquarters in Farmington.
- Operate nine branch locations to include: Brighton, Brownstown, Farmington, Hartland, Howell, Southgate, Taylor and two in Dearborn
- Retain the senior leadership teams of both credit unions.
- Provide expanded career opportunities to employees of both organizations with no job reductions resulting from the merger.
More Details:
Advantage One Credit Union members overwhelmingly approved a merger with LOC Credit Union based in Farmington at a Special Membership Meeting held at the Advantage One Credit Union headquarters in Brownstown on July 15, 2026.
The results were certified by Holzman Law PLLC, based in Southfield, MI.
“On behalf of Advantage One Credit Union, I’d like to thank our members for their vote of confidence on this merger approval as we chart this next phase of our credit union’s future,” said President/CEO Chris Corkery.
The systems integration and effective date of the merger is scheduled for May 1, 2027. On this date, as outlined in the merger agreement, LOC Credit Union will change its name to Advantage One Credit Union while retaining its headquarters in Farmington.
Current LOC Credit Union President/CEO Stephen Grech will continue to lead the new organization as CEO with Advantage One Credit Union President/CEO Chris Corkery assuming the role of President until Grech’s anticipated retirement date when Corkery will become President/CEO.
The decision to retain the Advantage One Credit Union name was driven largely by the organization’s desire to remove any potential barriers to growth.
“Given the historic, geographic context of the LOC Credit Union name, leadership felt Advantage One Credit Union would better resonate with consumers as the organization pursues new markets,” said Stephen Grech, LOC Credit Union President/CEO. “We don't want potential members to have to ask, ‘What does LOC stand for?’."