Ferndale, Michigan – St.
Joseph Mercy Pontiac Hospital Federal Credit Union (St. Joseph FCU) members have voted to approve a merger
with Credit Union ONE, effective October
1, 2014.
St. Joseph FCU is a $12
million asset credit union with a single branch located in the Medical Building
at the St. Joseph Mercy Oakland Hospital in Pontiac. Its 2,500 members are
primarily employees and family members of the hospital. After a decision that merging into another
credit union was in the best interests of the membership, the Board of
Directors engaged in a lengthy process to identify a merger partner. The process resulted in an agreement to
merge into the $870 million Credit Union ONE.
Credit Union ONE will operate in the hospital under the assumed named
St. Joseph Mercy Financial.
“Their long history of
service to health care employees, operating branches in hospitals, and the
overall breadth of products and services impressed our Board. Add to this, Credit Union ONE’s financial
strength, commitment to improving our branch, and a desire to retain some form
of a name connected to the credit union and hospital, and we knew we were
making a good decision for our members and future members,” said Nick Nickolopoulos,
Chairman of the Board. Mr. Nickolopoulos,
who is the RN Manager for the Intensive Care Unit at the hospital, will serve
on the Credit Union ONE Board of Directors.
“This merger perfectly fits
our strategic focus on serving the life sciences community. St. Joseph Mercy Oakland is a
thriving hospital that presents Credit Union ONE with significant growth
opportunities. We plan to leverage name recognition and member loyalty through
the use of the assumed name, and a project is underway to move to a new, more accessible, and member-friendly
site within the hospital. We see
tremendous upside potential once this merger is completed,” said Gary Moody,
President/CEO of Credit Union ONE.
“The St. Joseph FCU membership overwhelmingly approved this merger. They demonstrated a clear understanding of
how Credit Union ONE can meet all of their needs and that there is a long-term commitment
to the hospital and its employees,” said Catherine Roberts of In-Fusion Group,
and Acting CEO of St. Joseph FCU.
St. Joseph Mercy Pontiac Hospital FCU was
founded in 1957 to serve employees of the St. Joseph Mercy Oakland Hospital located in
Pontiac, Michigan. The credit union has
approximately $12 million in Assets and 2,500 members.
Credit
Union ONE,
headquartered in Ferndale Michigan for seventy-five years, offers a wide array
of financial services and access to over 30,000 ATM’s nationwide, serving 110,000
members, with seventeen offices in three major metropolitan areas, including
Metro Detroit, Grand Rapids and Traverse City. For more information go to cuone.org or "like us" on Facebook.
