In the past few years, our local communities have seen quite a few bank mergers, takeovers, buy-outs and acquisitions–normally with smaller, local institutions being absorbed into bigger national brands. A prime example is Chemical Bank which has recently become TCF, and is soon to become Huntington Bank.
The Problem with Mergers and Acquisitions
Mergers and takeovers can completely change a bank or credit union from the top-down. Policies from the bigger company become the standard, even if it means limiting capabilities the institution previously had before. Unnecessary work can be placed upon customers who need to update their accounts, and mergers can even cause branch closures.
The worst part about bank mergers is how the culture at a bank can get shifted. Normally the smaller, local banks get bought out by large, national bank brands, and they can lose their sense of community identity to the larger brand. It can also drive loyal employees away.
As Things Change, United Financial CU Stays Reliable
Did you know that United Financial Credit Union has been serving residents of Michigan’s lower peninsula since 1964? That’s over 50 years of delivering reliable service 6 days a week. That’s why we like to say we truly “Fit the Mitt.” We have a proven track record of consistency.
During these past decades, we’ve seen members from other institutions switch to United Financial CU after mergers disrupt their normal banking activities. They come to United Financial CU for more consistent service and a more community-driven culture. Why feel like a number when you can be treated like a member?
Does a more consistent banking experience sound appealing to you? We’re always going to be non-profit, which means we serve the interest of our members–not our stockholders. Our earnings are invested back into better saving rates and more loan opportunities for our community. We have a proud history of service and we don’t have any intentions of changing.