TRUE Community Credit Union and Parkside Credit Union announce plan to join together!
TOGETHER, we will be able to meet and exceed our members’ expectations better than anyone else, providing enhanced products, services, and digital access to members throughout the state of Michigan. We will retain the name and brand of TRUE Community Credit Union and will continue to thrive and expand our physical branch presence into Wayne County, serving members in 15 locations.
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Announcement Details
TRUE COMMUNITY CREDIT UNION AND PARKSIDE CREDIT UNION
ANNOUNCE MERGER PLANS
Merger represents significant opportunities for both credit unions.
JACKSON, MI – July 26, 2023- TRUE Community Credit Union and Parkside Credit Union, two well-established financial institutions known for their dedication to serving their members and communities for 70 years, are pleased to announce their intention to merge. The merger will produce a stronger, more comprehensive financial institution that will offer additional services, increased convenience, and ongoing support to members.
The merger represents a significant opportunity for both credit unions. By combining their strengths and resources, TRUE Community Credit Union and Parkside Credit Union will offer an even wider range of products and services, enhanced technology, and an expanded branch network to meet the evolving needs of their members.
The leadership of both credit unions express confidence that the merger will bring substantial benefits to their members, employees, and communities.
Chrissy Siders, President and CEO of TRUE Community Credit Union stated, "We are so excited to join forces with Parkside Credit Union as we embark on this transformative journey. Together, we embrace a shared vision, combining our strengths and resources to create an unparalleled financial experience that will stand as a testament to our unwavering commitment to our members, our communities, and our teams."
Janet Thompson, President and CEO of Parkside Credit Union, said, "Our partnership with TRUE Community Credit Union will build a brighter future for both our members and our employees. The alignment of our strategies and cultures as well as a shared vision makes this an ideal collaboration, and we are excited to write the next chapter in our combined credit union’s legacy together."
TRUE Community Credit Union, headquartered in Jackson, has twelve branch locations in Jackson, Ingham, and Washtenaw counties. Parkside Credit Union's headquarters in Westland, offers three branch locations in Wayne County. The combined credit union will retain the name and brand of TRUE Community Credit Union with its mission to cultivate legacy defining moments for the people and places they serve for generations to come by empowering members to achieve their financial goals.
TRUE Community Credit Union and Parkside Credit Union will work closely with regulatory authorities and stakeholders to obtain the necessary approvals, finalizing the merger on January 1, 2024.
About True Community Credit Union
TRUE Community Credit Union has been a trusted financial partner for its members since 1953. TRUE Community Credit Union offers twelve branch locations to serve members in Jackson, Ingham, and Washtenaw Counties. TRUE Community Credit Union has more than 720 million in assets and approximately 65,000 members. TRUE Community Credit Union prioritizes people over profit, process, and product and aims to create legacy defining moments for the people and places served for generations to come. TRUE Community Credit Union's website is TRUECCU.com.
About Parkside Credit Union
Parkside Credit Union is a community-focused financial institution dedicated to serving the needs of its members since 1953. Parkside Credit Union offers a comprehensive range of competitive financial products and services to help members achieve their financial goals. Parkside Credit Union has more than $172 million in assets and approximately 14,000 members. Parkside Credit Union's website is Parksidecu.org.
Q & A's
Why is TRUE Community Credit Union joining with Parkside Credit Union?
Parkside is a financially strong, safe, member-focused, and community-minded credit union led by a strong culture. Most importantly, Parkside operates by values very aligned with our own. By combining their strengths and resources, TRUE Community Credit Union and Parkside Credit Union will be able to offer a broader selection of products and services, enhanced technology, better serve our existing members, and pursue new growth opportunities that will expand our impact to potential members and more communities.
Will there be a name change?
No. Our name will remain TRUE Community Credit Union.
Is my branch team changing?
No. You’ll see the same friendly folks at all our branches.
Will employees lose their jobs due to this combination of credit unions?
All employees from both credit unions will continue to serve our membership and be retained in the merger, with many being given more opportunities to grow their skills and careers.
Who will be eligible to join the combined credit union?
Anyone who lives, works, worships, or attends school in the State of Michigan can join.
About Parkside Credit Union
Like TRUE Community Credit Union, Parkside is a financially strong, safe, member-focused, and community-minded credit union. Most importantly, Parkside operates by values very aligned with our own. Parkside has three branches located in Westland, Livonia, and Dearborn.
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