The number of religiously affiliated credit unions continues to dwindle and many have changed their name as part of a push to diversify their fields of membership.
A new initiative from the Minnesota Credit Union Network to help deepen share of wallet is believed to be the first of its kind and could be a model for credit union leagues in other states.
Having already changed charters for a statewide field of membership, the Jackson, Mich.-based institution will now merge with Washtenaw Federal Credit Union.
Institutions serving colleges and universities traditionally see membership surge in the fall, but are now planning for a decline as classes move online.
