Teachers Credit Union, a South Bend, Ind.-based large credit union, completed its acquisition of New Buffalo Savings Bank, a community financial institution with $111 million in assets and locations in New Buffalo, Sawyer and Three Oaks, Michigan, further expanding the credit union’s presence in Southwest Mi, the Harbor Country News reported in June 2020.
Adding to a familiar refrain related to the tsunami of credit unions buying banks nationwide – CUs stretching their ability to dive more deeply into business lending – the Harbor Country News reported that: “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.”
