Michigan

The Michigan-based CU celebrated its latest milestone during its 69th year of business.

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.

Credit unions and banks in the Great Lakes State could soon offer driver's license renewal and related services.

Julie Kreinbring has been the institution's interim leader since August and previously served as chief strategy officer.

The Flint, Mich.-based institution has selected an executive with expertise in fraud prevention and law to take the helm following CEO Marilyn Reno's retirement.

Tom Lopp will succeed Gary Judd at the end of November.

The merger of Bi-County PTC Federal Credit Union into BlueOx is expected to be completed on Jan. 1.

CUs in the Great Lakes State continue to see positive growth, but several key metrics are increasing at a slower pace.

With credit discrimination still legal in many states, the Michigan-based institution aims to help this marginalized group.

The Michigan company sold collateral tied to Live Well, a mortgage company that has filed for bankruptcy protection.

The company will pay $42 million in cash for the parent of Main Street Bank in southeastern Michigan.