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.