On January 5, 2026, Zeal Credit Union, Livonia, Michigan, announced that it had entered into a definitive agreement to acquire substantially all the assets and assume substantially all the liabilities of The Miners State Bank, Iron River, Michigan, the wholly-owned subsidiary of MSB Bankshares, Inc.

Zeal Credit Union has approximately $1.0 billion in assets and operates 17 full-service branches throughout the Metro-Detroit and Western Upper Peninsula communities of Michigan.

The Miners State Bank has approximately $144 million in assets and operates five branches across multiple communities in the Upper Peninsula in Michigan.

Luse Gorman served as legal counsel to Zeal Credit Union in the transaction. The Luse Gorman team included Jeff Cardone, Michael Brown, Brendan Saxon, and Babette Schwartz.

Luse Gorman has acted as counsel on more than 150 bank and credit union M&A transactions during the past six years and more bank and credit union M&A transactions than any other law firm in the nation over the past 20 years. To learn more about our mergers and acquisitions practice, please visit our website.