Press
Advia Credit Union grows with intent to merge with Southwest Michigan Federal Credit Union
PARCHMENT, MI (July 11, 2014) — The boards of Advia Credit Union (Parchment) and Southwest Michigan Federal Credit Union (Kalamazoo) have approved a partnership with intent to merge agreement to combine the two organizations. Advia Credit Union is based in Parchment, Michigan, and serves approximately 100,000 members with twenty-one (21) branches located throughout Michigan, Illinois and Wisconsin. Southwest Michigan Federal Credit Union provides three (3) local offices in Kalamazoo and Calhoun counties, and serves approximately 4,500 members within the nine (9) most southwest counties of Michigan, including Allegan, Barry, Berrien, Branch, Calhoun, Cass, Kalamazoo, St. Joseph, and Van Buren.
Upon final regulatory approval, as well as approval by the voting members of Southwest Michigan Federal Credit Union (SMIFCU) which is anticipated in the Fall of 2014, this partnership will provide even greater location and electronic financial access to the credit union members, while further strengthening a shared commitment to community. The financial strength of the combining credit unions is ranked in the top three percent in the nation, based on size, with more than 110,000 members and assets exceeding $1.1 billion. Advia Credit Union currently employs a team of nearly 400, and will operate with a total of twenty-four (24) branches in Michigan, Illinois and Wisconsin.
“Our commitment to our current and growing membership is to provide advantages via innovative financial solutions. Increasing our service locations while also introducing new electronic access options within Southwest Michigan is a great example of this commitment”, indicated Cheryl A. DeBoer, President and CEO of Advia Credit Union. “There is strength in numbers, and this partnership allows us to provide additional return to our member-owners through operational efficiencies experienced in combining our operations”, DeBoer also stated.
Advia Credit Union will continue to be headquartered in Parchment, MI. Regional leadership and branch operations will continue uninterrupted in and around the greater Kalamazoo and Battle Creek areas as well as surrounding communities with branches also located in Van Buren and Allegan counties. Advia Credit Union features additional branch locations in and around Port Huron, MI area, Southgate (Downriver), MI area, south-central Wisconsin and north-central Illinois. Cheryl DeBoer will continue as the President & CEO of Advia Credit Union.
There are no layoffs or reduction in staff anticipated as a result of this partnership. All employees of both credit unions are expected to retain existing or similar positions, along with additional opportunities for advancement. No branch offices are scheduled to close as a result of this partnership. In addition to local branches, members have access to nearly 5,000 Credit Union Service Center locations, and 30,000 CO-OP Network Surcharge Free ATMs.
Headquartered in Parchment, Michigan, Advia Credit Union currently operates 21 full-service branch locations with its field of membership available to those who live, work or worship in the lower peninsula of Michigan; in the counties of Green, Rock and Walworth, Wisconsin; and Winnebago County in Illinois. Look them up online at www.adviacu.org.