ANN ARBOR, Mich. — University Bancorp, Inc. said its banking subsidiary, University Bank, will increase its ownership stake in Credit Union Trust to nearly 50% through a $3.75 million share purchase scheduled to close at the end of the year.
The Ann Arbor–based holding company said in a press release that University Bank will acquire an additional 37.4999% of Credit Union Trust effective Dec. 31, 2025, raising its total ownership to 49.9999%. All required regulatory approvals have been obtained, and the closing was timed for month-end to simplify post-acquisition accounting under generally accepted accounting principles.
The transaction is a key element of University Bank’s wealth management strategy, the company said.
Full-Service Trust Bank
Credit Union Trust, based in Troy, Mich., operates as a full-service trust bank and credit union service organization that provides trust and estate administration, wealth management and education services to individuals, families and businesses. As of Nov. 30, 2025, the firm reported $134.7 million in assets under management. The company emphasizes locally based trust officers and advisers who provide direct, personalized service, according to the release.
Credit Union Trust is led by President and CEO Jordan Summers, who has headed the organization since March 2021. Summers said the increased investment by University Bank will support efforts to accelerate the company’s growth.
Before joining Credit Union Trust, Summers served as chief fiduciary officer and market president for a Michigan-based regional bank.
