WILMINGTON, Ohio - Wright-Patt Credit Union is concerned that DHL's pullout here is gong to affect more than just DHL workers here. The Fairborn, Ohio-based credit union, which has a branch in this market, fears the trickle-down following an expected large layoff that will affect local business and more members.
Last week global delivery company DHL announced it was cutting 9,500 jobs as it discontinues air and ground operations within the United States.
While the company said job cuts won't be concentrated in any one town, published reports estimate that 8,000 jobs will be eliminated from the DHL hub in Wilmington, a town of only 12,000. DHL also contracts with ABX Air in Wilmington to make deliveries to airports. Those jobs will likely go as well.
"We are concerned," said Jeff Carpenter, VP of membership and development for the $1.3-billion Wright-Patt. "With all those people losing their jobs, they are going to stop going to restaurants and hotels, and stop doing many other things. That will have a collateral impact on the whole community."
Wright-Patt has taken steps to let its membership know the credit union is standing by. Last May, when DHL first intimated job cuts could come, the credit union sent letters to all of the employees of DHL and ABX who are Wright-Patt members. The credit union said it will be ready to do workout loans if the situation demands, made members aware of its financial counseling program, and suggested talking to a Wright-Patt financial advisor if a member received a large severance. The credit union recently communicated that same message to its entire Wilmington membership.
Carpenter estimates that possibly 1,900 Wright-Patt members will be directly affected.
"Those are the ones we have identified as working for DHL and ABX from the direct deposit and loan information we have," he said. "It's just an estimate, but we feel it is close."
Carpenter added that DHL's exit could impact more than just Wilmington.
"We learned that DHL busses in employees from Columbus, Springfield, and Cincinnati," he said. "So we are not sure of the impact this will have on the surrounding communities as well."
Despite what could be a huge hit to Wilmington's economy, Wright-Patt feels its branch in the city will continue to be viable. "Wright-Patt is extremely strong," Carpenter pointed out. "We have 12.6% capital. We're growing and are having one of our best years. We have to keep our eyes open as to what goes on in Wilmington, but for the most part we have a lot more assets than just employees of DHL and ABX. So we think we are insulated to some extent."
