Christian Financial Credit Union in Sterling Heights, Michigan, and Catholic Vantage Financial in Livonia announced their plans to merge.

The transaction has received preliminary approval from federal and state regulators and is moving to the final step, which is a CVF member vote to be held in May, the companies said in a press release.

If approved, CVF and CFCU will merge on July 1 and continue as Christian Financial Credit Union, headquartered in Sterling Heights. In 2019, Christian Financial built a new headquarters building there to accommodate its rapid growth.

The credit union’s operating technology systems will be converted in late fall 2025.

Both organizations have a history serving the metro Detroit faith community dating to the early 1950s.

“CVF and Christian Financial have a similar origin story as we were born to meet the needs of everyday people who embraced a common faith and evolved to a more inclusive structure serving all the communities where we operate,” said Patricia Campbell, President and CEO of the $901 million-asset Christian Financial Credit Union.

Campbell will serve as president and CEO of the merged credit union while Peter Bagazinski, CEO of the $119 million-asset Catholic Vantage Financial, will serve as the chief business development and advocacy officer.

“Throughout this entire process, CFCU and CVF have stayed true to their core values of innovation, integrity, sustainability, making an impact in our communities, and most importantly, putting the member first,” Bagazinski said in the release.

Three board members from CVF will join the Christian Financial board.

The combined organization will serve more than 63,000 members with 212 employees and twelve branches across Detroit. The resulting credit union already received approval to expand its field of membership to include the entire state of Michigan.

Scale matters when it comes to membership growth.

Credit unions with assets of at least $500 million but less than $1 billion saw membership decline 3% during the four quarters that ended Dec. 31, 2024 while those with between $1 billion and $10 billion of assets experienced membership growth of 5%, according to National Credit Union Administration data.

Christian Financial Credit Union earned roughly $6.8 million in 2024, a 3% increase compared to a year earlier, according to call report data from the NCUA.

Catholic Vantage Financial earned $521,000 last year, a 32% decrease compared to 2023.

“Together, we can better navigate the challenges facing financial services today and deliver on our promise of Everyday Easy for our members. CVF’s footprint in Western Wayne County compliments our coverage on the east side of metro Detroit. Together, we will be able to deliver convenience to our members and make a larger impact on our communities.”

 – Patricia Campbell
President and CEO
Christian Financial Credit Union