Ignite Credit Union & Blue Ox Credit Union Announce Intent to Merge
Subject to Regulatory Approval
CLAWSON, MI – April 29, 2024 – McQueen Financial Advisors provided exclusive financial advisory services.
Ignite Credit Union and BlueOx Credit Union are excited to announce their plans to merge pending regulatory approval and a membership vote. If approved, the combined organization will operate under the unified brand name, Ignite Credit Union but would continue to keep their individual names. Under this model, BlueOx would become “BlueOx Credit Union, a Division of Ignite Credit Union.”
This model where each organization maintains its individual name was established in 2022, when Allegan Credit Union and Rivertown Credit Union merged. This collaborative concept allows the credit unions to ensure their rich histories and legacies continue to be honored. Overall, the combined assets would be more than $376M dollars, serving more than 32,000+ members with 11 branches throughout Michigan.
About Ignite Credit Union
Ignite Credit Union is the recent culmination of Allegan Credit Union and Rivertown Community Federal Credit Union, two credit unions that formed a partnership to serve their members, employees, and communities more effectively. Both credit unions share blue-collar roots and believed that by joining together they could do more than either of them could do alone. Uniquely each credit union has maintained its individual brands under the umbrella credit union created in Ignite.
About Blue Ox Credit Union
Blue Ox’s story began in 1936 in Battle Creek, Michigan – Inspired by a small handful of educators from the Battle Creek School System. BlueOx’s original field of membership was limited to teachers, principals, supervisors, and superintendents of the Battle Creek School System. Today BlueOx Credit Union’s field of membership is open to the entire state of Michigan.
About McQueen Financial Advisors
McQueen Financial is a nationwide financial advisory firm serving financial institutions since 1999. McQueen advises on ~25% of all Credit Union / Credit Union Mergers nationwide, annually.
Transaction Leads
Dan Martin
Director of Transaction Advisory & Valuation
Christian Abelarde
Vice President