After ratification by members, Jackson Community Federal Credit Union will merge with BlueOx Credit Union on Jan. 1, 2018.
In a statement released to CU Times, BlueOx Credit Union president/CEO Fran Godfrey said, “Smaller credit unions are increasingly challenged by regulation and other operational factors.” Godfrey continued, “This merger recognizes we are better together, when we align two strong, local organizations to provide tremendous value and strength to everyone.”
Jackson Community FCU, headquartered in Jackson, Mich. has $29.2 million in assets and nearly 5,000 members.
Jackson Community FCU president/CEO Jim Francis said of the merger, “Jackson Community chose BlueOx as a merger partner after much research and consideration.”
“BlueOx Credit Union mirrors our member and community-based philosophies, and staffing strength of both institutions will be maintained,” said Francis.
BlueOx Credit Union, headquartered in Battle Creek, Mich. has $141 million in assets and is a state-chartered, federally insured credit union with membership open to consumers within 17 counties in lower Michigan.
According to the statement, the merger will not result in a reduction of staff positions. BlueOx officials state that accounts from Jackson Community FCU will be converted to the BlueOx system by April 14, 2018.
