Michigan’s Zeal Credit Union to acquire in-state bank

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Michigan’s Zeal Credit Union to acquire in-state bank

Livonia, Mich.-based Zeal Credit Union is expanding into the Upper Peninsula of the state by acquiring Ironwood-based community bank Gogebic Range Bank in an all-cash deal.  The transaction is expected to close by the end of the third quarter. Following closing, $839 million Zeal Credit Union will grow to $975 million in assets while adding four branches to its current dozen. “Zeal is expected to keep predominantly all the employees and all the …