LANSING, Mich. — Members of NuUnion CU last night approved the combination of the $850 million credit union with Detroit Edison CU, creating the state's fourth-largest credit union with $1.5 billion in assets.
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Pending approval from state and national regulators, Michigan Office of Finance and Insurance Regulation, NCUA, the Federal Trade Commission, and Department of Justice, the merger is expected to be final in early April.
The new credit union will be known as Lake Trust CU and will reserve residnets in 29 Michigan counties. NuUnion's CEO Stephan L. Winninger will be the CEO of the new organization and DECU’s CEO, William J. Thiess, will be the President.
