The Boards of Directors of Community Focus Federal Credit Union (Community Focus) and Southeast Michigan State Employees Federal Credit Union (SMSE) are excited to announce a proposed merger between the two credit unions. The due diligence phase is in progress by both credit unions and is expected to continue for several months. This is not a takeover of one credit union by the other, but a partnership of two strong organizations that will combine their assets and resources for the mutual benefit of both memberships.
The Board of Directors of the combined credit union will be made up of all of the current members of the Board of Directors of both SMSE and Community Focus. The combined credit union will adopt a new name which has not yet been determined but will be announced prior to the effective date of the merger.
SMSE and Community Focus are both financially strong credit unions and could continue as independent organizations. Both credit unions share similar values of being dedicated to serving members. By pulling together the resources of the two organizations, the combined credit union will be able to offer its members more branches, high-yield deposit accounts, low rate loans, more technology and more career opportunities for their team members.
We recognize that this announcement will generate questions from members and community partners. Below you will find FAQs and we will continue updating them as we have more information to share.
Merger Information FAQs
The Boards of Community Focus Federal Credit Union (CFFCU) and Southeast Michigan State Employees Federal Credit Union (SMSEFCU) have agreed upon an intent to merge in order to form an entirely new credit union that would provide benefits to both memberships. SMSEFCU members will gain access to more and improved financial products and services, better technology, digital banking services, and an expanded number of branch locations. CFFCU members will benefit by expanding their branch network in Southeast Michigan thus providing for future growth opportunity.
We are in the preliminary stages of this process. We have a long road ahead to ensure a smooth transition and the enhanced experience you deserve. We are hoping to complete our due diligence and announce a proceeding to merger sometime in 2022. We will continue to provide additional communication as we progress.
It is business as usual for members at this time. There will be no immediate impact to your accounts. Any impact or required changes will be communicated to membership throughout this process, including account-related enhancements and changes.
There will be no layoffs as a result of this merger. In fact, a potential merger creates opportunity for existing employees to expand their career options in the future. All employees will be offered to keep their jobs, their salary, and seniority.
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Southeast Michigan State Employees Federal Credit Union (SMSE) was formed to serve employees of the State of Michigan and employees of local governments, working in Lenawee, Livingston, Macomb, Monroe, Oakland, St. Clair, Washtenaw, and Wayne Counties. SMSE has 3,867 members and one branch location in Southfield, MI.
We are evaluating the value that each branch location brings to the credit union membership and we are actively working on assessing the need for branch expansion.
Yes. The fields of membership of SMSE and CFFCU would unite under one newly established brand for the combined organization with a new name.
Combining resources to unite as a new credit union increases opportunities for members in the coming years and for generations ahead. Together, CFFCU and SMSE will provide members with an expanded access to branches, improved member services, and future innovation. You will have more locations to enjoy the great credit union service that you have come to know.