Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Merger involves two CUs with common vision
NORTH CANTON, Ohio (7/24/12)--Two Ohio credit unions that serve Methodists and employees of the Akron Beacon Journal newspaper merged earlier this month.

East Ohio Methodist Conference CU, based in North Canton, Ohio, with $51.5 million in assets, merged operations with West Ohio United Methodist CU in Cincinnati, with $20 million in assets, to become United Methodist Financial CU (Akron Beacon Journal July 21).

The three branches--the headquarters in North Canton, one in the Beacon Journal building in Akron and one in Cincinnati--will remain with a combined 17 employees to serve members, the newspaper said.

The merger culminates three years of discussions and will create economies of scale, with the larger credit union being better able to handle regulatory demands and bottom-line pressures, R. Wayne White, CEO of the former East Ohio United Methodist Conference CU, told the paper.

White will be the CEO of the new combined credit union. When he retires in a few years, the Rev. Russ Abbott, former CEO of West Ohio United Methodist CU and now chief operating officer of United Methodist Financial CU, will succeed White, the paper said.


RSS print
News Now LiveWire
.@CreditYOUnion captures voices of #100MM loud, proud at @GAUnitedCU See #NewsNow Thursday for more
10 hours ago
Ill. @GovernorQuinn signs patent troll law http://t.co/ugWf8zHpCm via @CrainsChicago
11 hours ago
.@MBAMortgage : Mortgage apps increased 2.8% from one week earlier for week ending Aug. 22.
11 hours ago
Franchise businesses may face higher breach risk with POS systems HT @briankrebs http://t.co/LGE46DUk15
12 hours ago
About 1 in 3 consumers use plastsic for in-person purchases of less than $5, according to @CreditCardsCom survey.
13 hours ago