Michigan credit union tweaks branding after charter conversion
A Michigan-based credit union is kicking off 2020 with a slew of changes that could better position it for growth.
Dort Federal Credit Union has converted to a state charter and rebranded as Dort Financial CU. The Grand Blanc, Mich.-based institution also now holds a statewide field of membership, allowing anyone who lives, works, worships or attends school in the Great Lakes State to join.
“We are very excited to have the opportunity to grow the credit union and expand our financial products and service offerings to the entire state,” President and CEO Vicki Hawkins said in a press release.
Dort Financial is one of many credit unions to convert in recent years from a federal charter to a state charter. Michigan lawmakers updated the state’s credit union statute in 2016 and several other states have made similar moves since then, including Kansas and Washington in 2019.
The $977 million-asset credit union earned about $11.1 million in net income during the first three quarters of 2019, up from $9.3 million during the same period one year prior.