Michigan

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.

Michigan on Monday approved a charter for a new financial institution designed for lesbian, gay, bisexual and transgender customers, clearing the way for online service to begin early in 2020.