FLINT, Mich. – In another large merger, Security FCU yesterday said it has agreed to merge with nearby Lapeer County Community CU, creating one of the largest credit unions in the region with $350 million in assets and 60,000 members.
Both credit unions reported small losses for the first quarter: Security FCU, with $272 million in assets, reported a $156,563 loss; and Lapeer County, with $78 million, a $16,000 loss.
Terry Pierce, president of Security FCU, will head the new credit union, which will use the Security name and have 10 branches.
