Merger Information


Together, Portland Federal Credit Union and SageLink Credit Union have announced their intent to merge. More information will be forthcoming, but below is the full press release and answers to frequently asked questions. This information is very preliminary and more details will be provided as they emerge. We are very excited about this new venture and stay tuned for more information.

Portland, MI - Portland Federal Credit Union and SageLink Credit Union, jointly announce their intent to merge subject to regulatory and membership approvals. As part of the merger agreement, SageLink Credit Union will merge with Portland Federal Credit Union, who has applied for state charter and will be changing their name to PFCU. The combined credit union will have total assets of $521 Million and 13 branch locations covering the following Michigan counties, Kent, Barry, Ionia, Ingham, Shiawassee and Genesee. This will make PFCU the 27th largest credit union in the state with a combined 46,000 members.

“Helping members is what our credit unions are all about”, said Harvey Hoskins, CEO of Portland Federal Credit Union, “We share similar values and goals with SageLink and through this merger we will be able to provide expanded products and services to our members, along with the same outstanding service they’ve come to expect from us over the past 70 years.”

“PFCU has a strong reputation in business lending to members that will enhance our lending platform and ability,” said SageLink CEO, Anna Willson. “Moreover, the adoption of technologies that SageLink brings in like, Interactive Teller Machines (ITMs) and the combined product mix and support functions from both entities will allow the credit union to be a significant competitor in Michigan for years to come,” She continued. 

The existing operating locations will retain their current name and branding, with SageLink Credit Union becoming, ‘SageLink a Division of PFCU’, for an interim time of up to 3 years from date of merger, ultimately becoming PFCU. Portland Federal Credit Union CEO, Harvey Hoskins will remain CEO and Anna Willson, president/CEO of SageLink, will join the PFCU executive team.

In addition to the increase of products and services offered, both parties have expressed their excitement about how this partnership will provide expanded convenience through a network of locations that will now incorporate the I-69 and I-96 corridor. This will allow members face-to-face service opportunities that extend as far East as Flint and as far West as Caledonia, near Grand Rapids.

The intent to merge has been unanimously approved by the board of directors of both credit unions and is expected to be completed at the beginning of the 2018 third quarter, subject to customary closing conditions, including regulatory and membership approvals. 

About Portland Federal Credit Union

The 70 year old Portland Federal Credit Union was established within the Holly Carburetor Plant in Portland, MI. Today, the credit union is a fullā€service financial institution with seven office locations throughout mid/west Michigan, over 29,000 members and $321 million in assets. Harvey Hoskins, the CEO, has served the credit union for 27 years. To find out more, visit our website at www.pfcu4me.com.

About SageLink Credit Union 

The 81 year old SageLink Credit Union was established through Shiawassee Teacher’s Credit Union in Corunna, MI. Today, the credit union is a full-service financial institution with 6 locations in Shiawassee and Genesee Counties and over 17,347 members and 200 million in assets. Anna Willson, the CEO, has served the credit union for 36 years. To find out more, visit our website at www.sagelinkcu.com

What is the purpose of the merger?

  • Our credit unions share similar attributes and values. Both are founded and managed to serve the needs of its members. We both take pride in our expertise in offering financial services and we share a unified commitment to deliver to best credit union experience
  • Improves access and long-term competitive capabilities.
  • Diversifies membership base and opens up new fields of membership.
  • Broadens economic and geographic footprint.

Why is this good for members?

  • Price: Supports opportunity for competitive rates through combined financial resources.
  • Convenience: Provides for an expanded geographical presences with 13 branches, 13 ATM’s and additional 5 branches with M- F 8 am to 8 pm drive up service and a Member Support call center that also has 8 am to 8 pm service hours.
  • Products and Services: Creates an opportunity to research and implement products and services faster as members needs change.
  • Loan Products: Add additional mortgage products, indirect lending program and business lending.
  • Service: Establishes the ability to expand and support all points of contact.

When will the merger officially take place?

  • The merger is to be completed on or after July 1st 2018. The system consolidation date has not been determined, but anticipated to be sometime in 2019.

Will the credit union name change?

  • The continuing credit union’s name will be PFCU. SageLink will continue as a division of PFCU for a period of up to 3 years after the date of the merger.

Will any of the branches be closed or consolidated?

  • No. We have no plans to close any branches. You can be assured that we will, as always focus on member convenience and on retaining the best business practices and services.

Will business hours be changed?

  • The business hours will continue to remain the same until further notice.

Will any employees lose their job?

  • No. All employees are being retained by the combined credit union.

Will I have to change my account number?

  • Not at this time. The system consolidation date has not been determined, you will be provide more account level information well before the planned system conversion date.

How large will the merged credit union be?

  • At the close of the merger, the combined credit union’s total assets will be approximately $521 million.

How will this benefit the employees?

  • When two motivated credit unions join together for the benefit of its members, the result is a combined organization that creates new and exciting opportunities to all stakeholders. The combination will lead to new areas of career development and growth opportunities. The great majority of employees will benefit from this merger. We do not plan to reduce our labor force as a result of this merger.

How do the cultures of the two credit unions compare?

  • The cultures are very similar. Above and beyond, both credit unions share a commitment to serving their members. While there are always subtle differences in credit union cultures, we believe the credit union will be a stronger organization because of its diversity and teamwork
What will the new landscape look like?

Map of New Landscape