Two Michigan credit unions plan $2 billion merger.
Financial Plus and Monroe Community credit unions say the proposed combination would expand products and technology while preserving local ties and retaining employees.
Financial Plus Credit Union of Flint and Monroe Community Credit Union plan to merge, creating a Michigan institution with more than $2 billion in assets as credit unions across the state pursue combinations to expand their reach and resources.
The proposed merger, which requires regulatory and member approval, would unite Financial Plus, with more than $1.7 billion in assets, and Monroe Community, with more than $410 million. The organizations have not yet announced a timeline for the deal.
For Brad Bergmooser, Financial Plus’s president and chief executive, the combination has a personal dimension: He grew up in Monroe, where the smaller credit union has served members since 1953.
“Monroe isn't just another community on a map for me. It's home,” Bergmooser said. He said the goal was to preserve the relationships members value while adding products, technology and resources.
The organizations said the combined credit union would pair Monroe Community’s local presence and community involvement with Financial Plus’s broader product offerings, statewide branch network and digital banking capabilities.
Monroe Community has about 32,000 members, six branches and more than $410 million in assets. Financial Plus serves more than 83,000 members across Michigan and has more than $1.7 billion in assets.
Kristine Brenner, Monroe Community’s president and chief executive, said the institutions share values and approaches to serving members and supporting their communities. She also said the merger would retain all employees from both credit unions.
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“By combining our strengths, we believe we can create an even stronger credit union, provide greater value and expand opportunities for our members, and make an even greater impact in our communities,” Brenner said.
Both credit unions reported positive earnings in their most recent reporting periods. Financial Plus earned $11.3 million in the first three quarters of 2026, compared with $11.6 million in the same period a year earlier, according to NCUA call report data. Monroe Community earned $3 million in the first half of 2026, up from $2.4 million a year earlier.
The proposed deal comes amid a series of credit union combinations in Michigan. Team One Credit Union, based in Saginaw, and CASE Credit Union, headquartered in Lansing, have announced a partnership that would bring together two institutions with more than 90 years of history each. Their combined organization is expected to take effect in January 2027, pending regulatory approval.
Another proposed combination would unite LOC Credit Union of Farmington and Advantage One Credit Union of Brownstown in an institution with roughly $750 million in assets serving more than 47,000 member accounts statewide.
For Financial Plus and Monroe Community, the stated case for combining is that greater scale can provide more services and technology without severing local ties. The institutions said they would share additional details about the approval process and timeline with members in the coming months.
“By combining our strengths, we believe we can create an even stronger credit union, provide greater value and expand opportunities for our members, and make an even greater impact in our communities.”
Kristine Brenner
President & CEO
Monroe Community Credit Union
Ken McCarthy is manager of marketing communications at Tyfone, where he monitors the credit union industry and contributes to conversations shaping its future. He previously covered credit unions and community banking for American Banker and S&P Global Market Intelligence. He holds a journalism degree from Point Park University and has more than 15 years of experience covering financial services. He is also the author of three literary fiction novels.
