Allegan Credit Union and Rivertown Community Federal Credit Union announce merger approvals
ALLEGAN, MI (December 13, 2022) — Allegan Credit Union and Rivertown Community Federal Credit Union have announced their merger has received regulatory approval as well as approval by majority vote of the Rivertown Community Federal Credit Union membership. The legal merger date for the two organizations is planned for January 1, 2023. At the time of the legal merger date Allegan Credit Union and Rivertown Community Federal Credit Union will begin to operate as one legal entity. From a member perspective, it will be “business as usual” for Rivertown Community Federal members. Both organizations will continue to serve their members at their individual branch locations as they ramp up efforts to have Rivertown Community Federal Credit Union to be fully integrated in early 2023.
Together the combined organization will operate under a unified brand but will continue to keep their individual names. The existing Rivertown branches will be designated as “Rivertown Branches.” The combined credit union will however operate their unique, individual brands under one unified brand.The organization’s combined assets will be approximately $160 million, and they will serve nearly 14,000 members with 5 branches in Western Michigan
Kristopher Lewis has been serving as dual President/CEO of Allegan and Rivertown Credit Union and states, “I want to thank the members, board members, and employees of Rivertown Community Federal Credit Union for their commitment to their credit union.” Lewis goes onto say, “We are excited to continue to serve our members in the same capacity they have grown to love. Our future looks very bright with this new partnership and we are committed to serving our members, employees and communities with excellence for many years to come.”
As the merger process continues to move forward, both credit unions will provide information to their respective Memberships via their websites (www.allegancu.com and www.rivertowncu.org), and other applicable communication channels.
About Allegan Credit Union
Allegan Credit Union
Allegan Credit Union was established in 1945 and operates 3 branches, serving more than 8,000 members, with approximately $82 million in assets. Allegan is excited to continue its legacy of growth and outreach in the communities it serves. Allegan is currently headquartered in Allegan, MI.
Rivertown Community Federal Credit Union
Established in 1949 and with approximately $78 million in assets and serving over 5,000 members Rivertown Community Federal Credit Union is focused on forging stronger bonds with the members, employees, and communities they serve. Rivertown is headquartered in Grandville, MI.
