Banking & Finance and Retail

Credit unions plan merger

March 7, 2017
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Community West Credit Union branch ribbon cutting
Community West Credit Union employees take part in a ribbon-cutting ceremony at a new branch. Photo via fb.com

A pair of local credit unions have plans to merge by the end of the year.

Kentwood-based Community West Credit Union and Comstock Park-based Tradewinds Credit Union said yesterday they intend to merge upon completion of regulatory and other approvals.

The boards of both credit unions have unanimously approved the merger.

Terms of the deal were not disclosed.

“This partnership provides great opportunities for these two strong, established credit unions," Community West Credit Union President and CEO Jon Looman said. "It will allow Community West to extend financial services to more members in West Michigan, while enabling Tradewinds Credit Union to provide the convenience of additional branches in Grandville, Hudsonville, Kentwood, Middleville and Rockford.”

Community West Credit Union

Founded in 1967, Community West Credit Union has nearly 23,000 members and managers more than $180 million in assets from five branch locations.

Membership to CWCU is open to anyone who lives, works, goes to school or worships in Kent, Ottawa, Allegan, Ionia and Barry counties.

Tradewinds Credit Union

Founded in 1956 by sheet metal workers as Local 410 Credit Union, Tradewinds Credit Union has undergone several name changes in its history.

TCU membership is available to anyone who lives in Kent or Ottawa counties or is a member or employee of a Building Trades Craft Union.

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