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United and Edgewater Bank Announce Plans to Unite in Spring 2021

St. Joseph, Michigan – St. Joseph-based United Federal Credit Union (United) and Edgewater Bank (Edgewater) announced today their plans to strategically unite into the area's foremost local financial institution, according to United President and CEO Terry O'Rourke.

“This collaboration is all about the community," said O'Rourke, who expects United’s acquisition of Edgewater to be finalized in the spring of 2021. "Our two organizations are one hundred percent committed to local decision making, local investment and local involvement and we both want to fortify that real local focus. Together, we can do more for the financial well-being of everyone that calls Southwest Michigan home.”

Edgewater’s President and CEO Rick Dyer echoed O’Rourke’s emphasis on making sure Southwest Michigan has the strongest and broadest financial opportunities. “Our two organizations share the same core values and have similar cultures. That’s why we are calling this partnership the ‘Real United’ campaign. Our teams understand what it means to take care of our customers and Members and how to exceed their expectations for service. Rather than continue competing for local business, employees and resources, it makes the most sense to combine our expertise to truly be the most dynamic, financial force in our local communities. This is real local progress.”

O’Rourke explained that once the shareholder and regulatory approvals are finalized, Edgewater customers will be eligible to become Members of United. They will have access to more technology, knowledge, products and services as well as other United membership perks. However, many things in the local financial landscape will stay the same. Pending shareholder and regulatory approval, all of Edgewater's branches will remain open, except for one. Due to its proximity to United’s Buchanan branch, Edgewater’s Buchanan branch and its employees will be consolidated into the United branch.

“We want Edgewater customers to know that they can expect to maintain the same local relationships they have with the commercial lending officers and employees they have come to value and trust,” said O’Rourke. That includes Rick Dyer, who will have a leadership and decision-making role as Community President within United once the transaction is done.

“I will remain actively involved in local decision making,” said Dyer. “You will continue to see me and other Edgewater team members advocating for and working in the best interests of everyone in our area.”

O’Rourke and Dyer said that until approvals are complete, it will be business as usual for both organizations. Edgewater customers will continue to access their branches, accounts and services as they do now. Both CEOs assure that their customers, Members and employees will get updates throughout the approval and regulatory processes. Once the transaction is complete, the transition from Edgewater to United will be as smooth as possible for customers and employees.

“This is a partnership of minds and ideas, of ideals and values, of resources, talent and community spirit,” said O’Rourke. “Unifying the 110-year-old ‘Real Local Bank’ with United, a credit union with over 70 years of local community service, will give our customers, Members and communities more.”

United has been assisted by Michael Bell with Honigman LLP and Charley McQueen with McQueen Financial Advisors. Edgewater was advised by Luse Gorman, PC and Donnelly Penman & Partners.

For more information about the Edgewater and United announcement or to submit questions go to Or call Edgewater at 800-922-5221, United at 888-982-1400 or reach out to a local Edgewater or United branch.

About Edgewater Bank

Edgewater Bancorp, Inc. is the shareholder-owned holding company for Edgewater Bank. Edgewater Bank has been serving Southwest Michigan as a local community bank since 1910. It has full-service branch offices in Bridgman, Buchanan, Coloma, Royalton Township and St. Joseph, along with commercial loan offices in Greenville, Fremont, and St. Joseph, Mich.