Financial Plus Credit Union to merge with Wanigas Credit Union

By Pavithra R

The Boards of Directors for Wanigas Credit Union of Saginaw and Financial Plus Credit Union of Flint announced that the credit unions 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 bn in assets, 11 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,” said Barney Hennessy, Board Chairperson of Financial Plus CU.

Current Financial Plus Credit Union CEO, Brad Bergmooser, will lead the CU 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.

“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.

Financial Plus was founded in 1952 (then known as Cheve-Flint Federal Credit Union) by the employees of the Chevrolet Motor Company, who worked in a factory fondly known as “Chevy in the Hole.”