EAST LANSING, Mich. – Michigan State University FCU has agreed to acquire Eaton County Educational CU and build a new branch in Charlotte to serve the ailing $33 million credit union’s membership.
“Due to the current economic climate and recent financial legislation, many smaller credit unions are finding it impossible to earn income and grow financially,” said Ken Huber, president of Eaton County, which reported losses in each of the past four years. “We specifically approached MSU FCU as they are very sound and secure and will provide our members with exceptional service plus a wide variety of additional services and conveniences.”
After the merger, the $2.3 billion MSU FCU will add a branch in Charlotte and renovate the Charlotte facility.
