BAY CITY, Mich.–Members of the $104.2-million COPOCO Community CU have voted in favor of merging into the $1.6-billion ELGA Credit Union in Grand Blanc, Mich.
The two CUs are now operating as one, and full system integration expected by spring 2026.
COPOCO Community CU posted net income of $40,726 at midyear, with net worth of 8.41%.
The combined credit union will serve more than 108,000 members across 16 branches in Michigan. As the CU Daily reports separately, ELGA CU is also looking to complete an acquisition of a Florida-based bank.
Both ELGA and COPOCO were founded in 1951 to serve employees of Consumers Power Company and their families. ELGA, whose name stems from “Electric and Gas,” is headquartered in Grand Blanc, while COPOCO, named in honor of the power company, is based in Bay City, the credit unions said.
‘Shared Commitment’
“This partnership between ELGA Credit Union and COPOCO Community Credit Union is rooted in a shared commitment to people helping people,” Terry Katzur, president and CEO of ELGA Credit Union, said in a statement. “Together, we will create greater access to innovative financial solutions, enhanced technology, and expanded services—empowering more individuals and families across Michigan to achieve financial success.”
