We are extremely pleased and excited to announce the potential merger of Wanigas Credit Union (Saginaw, MI) into Financial Plus Credit Union. The Boards of Directors from both credit unions have mutually agreed that this partnership is a terrific opportunity to create more value for our combined membership.  

Here's our reason:

While Financial Plus is financially strong, merging with Wanigas Credit Union would create efficiencies and economies of scale that would provide significant member benefit. A merger with Wanigas Credit Union would create a combined organization of over $1.1 billion in assets. In addition, Wanigas Credit Union and Financial Plus Credit Union have a shared history of serving employees of the automotive industry and a continued commitment to a unionized employee workforce. Both credit unions are seeking additional member benefit, and we believe a merger will provide that benefit.  which will have to be approved by the state and federal regulators and as the merging credit union, by the members of Wanigas Credit Union.

How we all benefit:

  • Convenience: Members will now have access to a total of 11 branches. At our combined size we would be able to consider expanded branch operations in the area and other improvements to be more convenient to our members.
  • Member Service: As a larger organization, we will be able to invest more in providing even better service to our members.
  • Expanded/Improved products and services: Our larger size will allow us to consider many new and expanded products and services.
  • Technology: Improved technology through the latest offerings in online and mobile banking.
  • More competitive loan and deposit rates for members: By taking advantage of economies of scale on operating expenses, we will be able to pass those savings along to you, the members, through higher dividends, lower loan rates, and reduced fees.
  • Employee Opportunities: Greater employee career growth opportunities, training resources, and competitive employee benefits as part of a larger organization.

What to expect?

  • All branch locations will stay open
  • All of our wonderful staff will be retained
  • All accounts will transfer to the combined credit union

Next steps:

The Board of Directors and Management Teams of both organizations will begin the exploration and integration analysis process. Upon the completion of successful analysis, we will seek regulatory approval and an affirmative membership vote from the members of Wanigas Credit Union before moving forward with the merger. 

We value you as our member and are committed to keeping you up-to-date on the progress of the partnership as it continues to develop. The latest updates will be posted here on our website – or available at any branch.

If we move forward with the merger after the necessary approvals are in place, rest assured that you will receive the same exemplary service from the same great employees you have come to know from Financial Plus Credit Union.  

Frequently Asked Questions

  • What has been proposed to take place between Wanigas Credit Union and Financial Plus Credit Union?

  • Is either credit union in financial trouble?

  • Will my accounts continue to be insured?

  • Will my branch remain open?

  • Why have the two credit unions proposed a merger?

  • How would Wanigas Credit Union and Financial Plus Credit Union members benefit from the proposed merger?

  • How would member accounts be impacted?

  • Would any staff be laid off as a result of this merger?

  • What would happen to the Board of Directors?

  • Would the merger affect membership eligibility?

  • What is the proposed merger process and timeline?

  • Do both credit unions support this partnership?

  • Would the credit union be financially sound?

  • What if I have additional questions?