MidWest Financial Credit Union members officially approve merger with DFCU Financial
Members of Ann Arbor-based MidWest Financial Credit Union have officially approved a merger with Dearborn-based DFCU Financial, Michigan’s largest credit union by total assets, officials announced today.
The acquisition, first announced in June, was approved by 92 percent of DFCU members who cast votes.
DFCU now has some $3 billion in assets, 530 employees and more than 219,000 members. MidWest Financial had about 70 employees, nearly 18,000 members and four branches.
“Being a part of DFCU Financial will offer members, employees and our community with benefits and opportunities that MidWest alone could not provide,” said Mike Stevens, CEO of MidWest Financial, in a statement.
DFCU, which is entering the Ann Arbor market as a result of the merger, was expected to maintain the MidWest employees.
“We look forward to serving our new members and providing them with our outstanding benefits of membership,” said Mark Shobe, president and CEO of DFCU Financial.