GRAND RAPIDS, MI (October 26, 2018)–Lake Michigan Credit Union (LMCU) of Florida is pleased to announce its merger with Southwest Florida’s Encore Bank. This merger represents a number of positive developments for the members of both LMCU and Encore Bank.
Already cemented as Michigan’s largest credit union and mortgage lender, LMCU opened four Florida branches in 2015, and now boasts ten locations throughout the southwest region following the merger.
LMCU President and CEO, Sandy Jelinksi, is excited about the opportunity to grow and serve the Southwest Florida market, “We’re delighted to join forces with Encore Bank to help strengthen and expand our presence in the growing Southwest Florida market. This is an exciting opportunity for both organizations, our collective customers, and our dedicated teams of bankers. Encore’s six branches dovetail perfectly with our four Florida branch locations, with no service coverage overlap. Encore is a well-run financial institution that will immediately make our combined team a key player in this market.”
Tom Ray, previously the President and CEO of Encore Bank, will stay on as the President of LMCU’s West Florida region. “We’re very excited to join the LMCU Team. We’re proud of the relationships we’ve built at Encore Bank and I know this partnership will significantly benefit our customers and the communities we serve.”
Lake Michigan Credit Union is the largest credit union in Michigan. Employing a staff of over 1,200, LMCU’s assets exceed $5.9 billion, with a mortgage serviced portfolio of over $10 billion and over 410,000 members. LMCU has 53 convenient branch locations overall, including ten in southwest Florida. LMCU members have access to over 55,000 AllPoint ATMs worldwide. LMCU provides a full-range of financial services, from high interest-bearing checking accounts to personal loans, mortgages, investments and commercial banking.