New Buffalo Savings Bank in Michigan now is officially part of Teachers Credit Union.
South Bend-based Teachers Credit Union announced June 9 in completed its purchase of New Buffalo Savings Bank, which initially was announced in May 2019. New Buffalo Savings Bank had $111 million in assets and operated Michigan branches in New Buffalo, Sawyer and Three Oaks, which now operate as TCU locations.
New Buffalo Savings Bank clients are now TCU members.
“As we carry on New Buffalo Savings Bank’s legacy of exceptional service and community involvement, TCU is committed to working with our new members to ensure a seamless transition,” said Paul Marsh, TCU president and CEO. “We’re excited to officially welcome New Buffalo Savings Bank clients into the TCU family and look forward to offering them the full suite of benefits that come with credit union membership.”
The acquisition also enhances the credit union’s business lending efforts by adding New Buffalo’s expertise in SBA lending, an area of expansion for TCU.
“We are proud to become a part of Harbor Country,” Marsh said. “We have received a wonderful welcome as we have made this transition and are excited to extend our community partnerships in Southwest Michigan.”