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Bay Winds Federal Credit Union members endorse partnership with Members Credit Union
CHARLEVOIX, MI (October 3, 2014) — The member/owners of Bay Winds Federal Credit voted overwhelmingly this week to partner with Members Credit Union of Traverse City, creating the most comprehensive network of locally-owned financial institutions in northern Michigan.
Completed ballots were submitted by 3,810 members with 2,900 (76.1%) voting in favor of the partnership and 910 (23.9%) casting ballots in opposition. Incomplete ballots (those without a vote indicated) numbered 299.
“We’re both humbled and encouraged by our member/owners’ ringing support of the partnership,” remarked David Leusink, CEO/President of Bay Winds. “We don’t make a habit of resting on our laurels. This partnership will allow us to offer leading-edge financial solutions, while ensuring we never lose sight of the member empowerment philosophy our two institutions are built upon.”
Voting packets were provided to members via mail and at Bay Winds branch locations over a two week time period, beginning Tuesday, September 16. Voting was concluded at a Special Meeting of the Membership held Wednesday, October 1. The vote was tallied and certified at the meeting by a third party accounting firm.
The proposed partnership was announced by the volunteer boards of directors of the institutions in June. Benefits of the partnership include greater convenience through more branch locations and enhanced account management tools, increased member value derived from combined operational efficiencies, and a stronger, more innovative financial institution.
“Both institutions put our members first in everything we do,” stated Andrew Kempf, CEO/President of Members Credit Union. “At the very core of this partnership is a shared commitment to offering creative, best-in-class financial solutions provided with passionate service and unwavering purpose.”
The joined institution, which will receive a new name, is slated to begin operating in early 2015. In the interim, both institutions will continue operations as usual.
More information about the proposed partnership can be found by visiting www.baywindsfcu.com/partnership or www.memberscu.com/partnership.