MENOMINEE — Members of Menominee Area Credit Union in Menominee have voted to merge with CoVantage Credit Union, to take effect Oct. 1.

MACU members June 26 unanimously backed the merger at a special meeting at Menominee High School.

Founded in 1954, MACU has about 1,300 members and more than $9 million in assets. “I think this is a wonderful opportunity for our members and will be great for our community,” said Michael Kaufman, MACU president.

“CoVantage shares the same beliefs that we do: service, value, quality and commitment to improving the lives of member-owners,” said Mindy Brezsko, CEO and manager of Menominee Area Credit Union. “There will be many benefits of membership in this larger credit union, including a wider variety of products and services and even soon-to-be expanded office hours.”

CoVantage Credit Union has more than 94,000 members in Dickinson and Iron counties in Michigan; and Marinette, Florence, Oconto, Shawano, Menominee, Brown, Outagamie, Waupaca, Langlade, Oneida, Forest, Vilas, Lincoln, Marathon, Clark, Portage, Price, Taylor, and Wood Counties in Wisconsin.

The financial cooperative has 350 employees, $1.4 billion in assets, and is headquartered in Antigo, Wis. CoVantage also has two Michigan branches in Iron River and Crystal Falls; and nine Wisconsin locations in Shawano, Crandon, Elcho, Rhinelander, Wausau, Weston, Rib Mountain, Rothschild and Stevens Point.

“We look forward to getting to know our new Menominee Area Credit Union members, welcoming the staff, and serving the Menominee community,” said Charlie Zanayed, president and CEO of CoVantage Credit Union. “We feel CoVantage has a lot to offer … We are excited to have the opportunity to serve the members of MACU and we’ll do our best to make this transition a positive experience for everyone.”

Work already has begun to bring the two credit unions together. All current MACU staff will remain employed with CoVantage; and the Menominee site will operate under the CoVantage Credit Union starting Oct. 1.