Friday, November 1, 2013

Michigan Credit Union Buys Bank Branch and Deposits

Credit Union Journal is reporting that Honor Credit Union of St. Joseph, Michigan is purchasing the Decatur branch of Edgewater Bank and its 850 customers and $14 million in deposits.

The credit union has a community charter serving 14 counties and was able to qualify all of Edgewater Bank's Decatur branch customers for membership because they resided in the community.

The terms of the deal were not disclosed.

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