Michigan

For the second time in six months, Birmingham Bloomfield CU is absorbing another nearby credit union that will operate as "a part of" BBCU.

Roughly 55% of Michiganders belong to a credit union but growth rates in the state continue to slow.

Andy Kempf has taken the helm from David Leusink, who retired after 30 years in the credit union movement.

The company will pay $29 million for a bank located northwest of Grand Rapids.

Dort Financial is the latest to switch from a federal charter to a state charter, a move that also widens its field of membership.

Tom Lopp abruptly suspended a program that accounted for 83% of Sterling Bancorp's mortgage production this year. An ongoing audit of the program and pressure to diversify beyond mortgages are reasons to watch Lopp and Sterling in 2020.

The company will hold off on making loans under the Advantage Loan program as it conducts an audit and implements new policies and procedures.

While digital channels are becoming more popular, many banks remain committed to highway advertising.

Stephen Grech, currently CEO of Monroe County Community FCU, will move to the $225 million-asset LOC early next year.

Membership was previously only available to consumers in five counties.