BlueOx Credit Union in Battle Creek, Mich. has acquired United VIP Credit Union in Sterling Heights, Mich.
BlueOx said in a press release Wednesday that the merger went into effect Oct. 1, and the process of transitioning United VIP members is ongoing. The terms of the deal were not disclosed.
With the acquisition, BlueOx has $142 million in assets and about 16,500 members.
The directors of United VIP chose to merge with BlueOx in part for "the strong financial position of BlueOx, the commitment BlueOx has to its employees and communities, and its commitment and service to its members," as well as the "protection of its employees and the stability of the Sterling Heights office," according to the release.
Ron Martin, chief executive of United VIP, retired on Nov. 4, and Elizabeth Tutewiler, a BlueOx employee since 2009, was promoted to branch manager.
BlueOx Credit Union is a state-chartered, federally insured credit union with membership open individuals within nine counties in Michigan's lower peninsula.
