ACCESS Newswire
17 Dec 2025, 00:55 GMT+10
ANN ARBOR, MI / ACCESS Newswire / December 16, 2025 / University Bancorp, Inc. (OTCQB:UNIB or "UNIB") announced that University Bank, a wholly-owned subsidiary of UNIB, will acquire effective on December 31, 2025 an additional 37.4999% of the shares of Credit Union Trust for $3.75 million, increasing its ownership to 49.9999%. The acquisition is a key part of University Bank' wealth management strategy. All regulatory approvals and all paperwork required for the share acquisition have been completed and the closing has been scheduled for month-end to simplify the post-acquisition accounting requirements under GAAP.
Credit Union Trust, based in Troy, Michigan, is a full-service trust bank and credit union service organization (CUSO) which assists individuals, families and companies with trust and estate administration, wealth management and education. As of 11/30/2025 Credit Union Trust had $134.7 million in Assets Under Management. Unlike the regional and mega banks that provide largely centralized services and contact centers, Credit Union Trust provides direct personal services with trust officers and advisors who are based locally and available to its clients at any time.
Credit Union Trust is led by its President & CEO, Jordan Summers, an accomplished trust officer who has led Credit Union Trust since March 2021. "We are very excited about University Bank's increased investment in Credit Union Trust and its plans to accelerate our growth," Summers stated. Prior to joining Credit Union Trust as President and CEO, Jordan Summers served as Chief Fiduciary Officer and Market President for a Michigan-based regional bank.
"We are uniquely positioned to assist individuals and families by delivering a full suite of trust solutions," according to Summers. "With the team's expertise, our credit union partnerships, the support of University Bank and relationships with legal, accounting, and other practitioners across our footprint, we have the perfect opportunity to help people improve their lives and increase their peace of mind."
Summers is actively involved in both estate planning and Michigan community organizations. A licensed attorney, he currently serves on the Michigan Bankers Association's Trust Executive and Trust Counsel Committees. He also serves on the board of the Midland Business Alliance and the Chippewa Nature Center. Summers received his BBA from Northwood University, his MBA from the DeVos Graduate School at Northwood University, and his JD from Wayne State University.
The head of University Bank's Wealth Management division, Ben Bolen, has earned the elite CFP designation. As a Certified Financial Planner™, he provides boutique planning and consulting services that integrate financial, aging, caregiving and legacy planning, including trusts. Ben is available to consult with members of the public, and there is no charge for an initial meeting.
Ben Bolen's book, "Clarity Before Crisis: Beyond Financial, Legal, and Healthcare Guidance for Aging, Caregiving, and Family Legacy", was recently published. It helps individuals begin organizing the practical and relational aspects of aging, caregiving, and family planning. You can explore these topics in detail at www.claritybeforecrisis.com.
As the U.S. population continues to age, many of the families University Bank serves already have someone helping with their investments and may have traditional legal documents in place. What is often missing are the family dynamics, caregiving realities, communication breakdowns, and emotional challenges that can derail even well-structured plans. Ben's book and wealth management practice are designed to open those conversations in a safe and accessible way. Ben can make those conversations more approachable for our customers.
Shareholders and investors are encouraged to refer to the financial information including the investor presentations, audited financial statements, strategic plan and prior press releases, available on our investor relations web page at: http://www.university-bank.com/bancorp/.