Home > About Wanigas > News & Events > Wanigas and Financial Plus Merger

In 2021, Wanigas Credit Union agreed to explore a merger with Financial Plus Credit Union, headquartered in Flint, Michigan. The decision to proceed with the merger was the result of extensive assessment and research by each credit union and a desire to provide the members of both institutions with the best financial services possible.

Our explorations indicate that our two organizations share a strong mutual commitment to our members, our employees, and our communities. 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. Through a merger, we believe each of our organizations will be able to fulfill its commitment more efficiently while achieving the goal of expanding product and service offerings.

A merger with Financial Plus Credit Union would create a combined organization of over $1.1 billion in assets with 11 branch locations to serve you. By combining the two credit unions, we will be able to service more markets and have more budget dollars to devote to the credit union and, ultimately, the membership.

How we all benefit:

What to expect:

Next steps:

We are excited to share, the Michigan Department of Insurance and Financial Services and the National Credit Union Administration have approved the merger application. The final step for the merger to take place is approval from you, the Wanigas member. A Notice of Special Meeting of Members and Merger Ballot was mailed to each member on Monday, May 9, 2022. To vote on this proposition, the Board of Directors of Wanigas Credit Union has called a Special Meeting of the Members at:

Wanigas Credit Union
1837 Bagley St, Saginaw, MI 48601
Tuesday, June 28, 2022 at 6:00 PM

The purpose of this meeting is:

  1. To consider and act upon a plan and proposal for merging Wanigas Credit Union with and into Financial Plus Credit Union (hereinafter referred to as the “Continuing Credit Union”), whereby all assets and liabilities of Wanigas Credit Union will be merged with and into the Continuing Credit Union. All members of Wanigas Credit Union will become members of the Continuing Credit Union and will be entitled to receive shares in the Continuing Credit Union for the shares they own in Wanigas Credit Union on the effective date of the merger.
     
  2. To ratify, confirm and approve the action of the Board of Directors in authorizing the officers of Wanigas Credit Union, subject to the approval of members, to do all things and to execute all agreements, documents, and other papers necessary to carry out the proposed merger.

The Board of Directors of Wanigas Credit Union encourages you to attend the meeting and vote on the proposed merger. Whether or not you expect to attend the meeting, we urge you to complete and return your member ballot to vote on the proposed merger.


Your Wanigas Credit Union Board of Directors recommends that you vote “yes” on the merger with Financial Plus Credit Union.

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. Merger updates will be posted here on our website.

Announcements:

Member Announcement May 2022 and
'Notice Of Special Meeting Of The Members'

Member Announcement February 2022

'Notice of Intent to Merge' Press Release

Member Announcement July 2021   

FAQ's:

 

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