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LAFCU, Lansing Postal Community CU to merge

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LAFCU, Lansing Postal Community CU to merge

LAFCU and Lansing Postal Community CU agreed to merge, according to a press release posted on CUInsight.com.

Lansing Postal Community CU members are set to vote on the deal March 14. The merger, which has already been approved by the National Credit Union Administration and the Michigan Department of Insurance and Financial Services, is expected to occur on or after April 1.

All employees will keep their jobs, and Lansing Postal Community CU's branch will remain open.

As of the end of 2017, LAFCU had $645.0 million in assets, while Lansing Postal Community CU had assets of $21.5 million, SNL data shows. Both are based in Lansing, Mich.