IBMSECU acquires Mackinac Savings Bank
The $980 million IBM Southeast Employees’ Credit Union (IBMSECU) in Delray Beach, FL, announced the merger and acquisition of the $109 million Mackinac Savings Bank, in Boynton Beach, FL. Mackinac Savings Bank has three banking offices in Palm Beach County, FL and lending offices in Florida, Massachusetts, and Michigan. Mackinac has more than 50 years experience in providing lending and other real estate-related services including a variety of specialty portfolio loans.
IBMSECU has provided financial services to families for more than 48 years, with 16 branch locations in Florida and Georgia.
Michael Miller, President and CEO at IBMSECU stated, “We are excited and pleased to announce the acquisition of Mackinac Savings Bank. This partnership allows us a greater opportunity to deliver financial solutions and personalized services in the communities we serve. We welcome the Mackinac Savings Bank employees and customers to our credit union family and can’t wait to combine our cultures of service excellence.”