A merger between Jackson Community Federal Credit Union and BlueOx Credit Union is moving forward after ratification by members of JCFCU on December 19, 2017. Members of Jackson Community Federal Credit Union met last night at the Michigan Theatre to hear details of the plan and to vote on the merger. The deal brings Jackson Community FCU’s $29.2 million in assets and 4,877 members into BlueOx Credit Union. The merger is effective January 1, 2018, with the following months serving as a transition period, as accounts are converted to the BlueOx system by April 14, 2018.
“Jackson Community chose BlueOx as a merger partner after much research and consideration,” Jackson Community President/CEO, Jim Francis said. “BlueOx Credit Union mirrors our member and community-based philosophies, and staffing strength of both institutions will be maintained. No staff positions will be lost in the process.”
“Smaller credit unions are increasingly challenged by regulation and other operational factors,” noted BlueOx Credit Union President/CEO Fran Godfrey. “This merger recognizes we are better together, when we align two strong, local organizations to provide tremendous value and strength to everyone.”
Representing $141 million in assets, BlueOx Credit Union is a state-chartered, federally insured credit union, with membership open individuals within seventeen counties in lower Michigan.