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Wanigas Credit Union and Financial Plus Credit Union Exploring “Strategic Partnership”

source: Alpha Media Image Library

Financial Plus Credit Union of Flint released the following on Wednesday, July 14, 2021: 

Flint, MI – The Boards of Directors for Wanigas Credit Union of Saginaw and Financial Plus Credit Union of Flint announced they have mutually agreed to pursue a possible merger, contingent upon a successful exploration and integration review, a favorable membership vote, and regulatory approval. The combined credit union would have over $1.1 billion in assets, eleven branch locations, and approximately 80,000 members.

“We are excited about a partnership with Wanigas Credit Union. Through our combined resources and unified membership, we will be in a position to further enhance our digital service strategy and increase our product depth, delivering an even more seamless member experience. This opportunity aligns with our core values and vision to provide a wide variety of financial options to our members across the state for any reason, anytime, anywhere,” remarked Barney Hennessy, Board Chairperson of Financial Plus Credit Union.

“Our membership and surrounding communities will thrive as a result of this partnership. We are excited to provide increased member access, benefits, and employee growth opportunities, all while remaining a strong and healthy credit union. It was most important for us to join forces with a local credit union like Financial Plus, which shares our same core values,” said Michael Balls, Board Chairperson of Wanigas Credit Union.

Current Financial Plus Credit Union CEO, Brad Bergmooser, will lead the credit union with the help of the Senior Management Team from both credit unions. The current CEO of Wanigas Credit Union, Bernie Williams, will join the combined credit union as a member of the Senior Management Team. All employees of both organizations will continue to be employed by the combined organization.

Financial Plus was founded in 1952 as Chevy-Flint Federal Credit Union serving the employees of Chevrolet Motor Company in Flint. Currently, Financial Plus is $754 million in assets and serves more than 55,000 members throughout Michigan. Membership is open to anyone who lives, works, worships, or attends a college or university in the State of Michigan.

Wanigas started out as the Saginaw Gun Plant Employees Federal Credit Union back in 1952 by a group of Saginaw Division Plant 2 employees. Today, Wanigas Credit Union has almost 25,000 members, four branch locations, and more than $412 million in assets. Membership is open to anyone who lives, works, worships, attends school or has a business or other legal entity in any county located in the State of Michigan’s Lower Peninsula.

 



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