Small Ohio credit union to merge into Pathways Financial
Standard Register Federal Credit Union in Dayton, Ohio, has agreed to merge into Pathways Financial Credit Union in Columbus, Ohio.
The deal is expected to close on Aug. 31, but still needs to be approved by members of Standard Register FCU.
“We are proposing this merger as a way to bring significant new benefits to our members,” a guide on the merger said. “Partnering with one of the most successful and fastest-growing credit unions in Ohio will deliver many more products and services to members, expand our geographic presence, open up access to a complete digital member experience and provide additional growth opportunities.”
The $38 million-asset SRFCU’s member vote will be held on Aug. 5. Combining with the $417 million-asset Pathways Financial CU will expand SRFCU’s branch network from one to 13.
SRFCU lost roughly $26,000 in the first quarter, compared with a loss of almost $20,000 for the same period a year earlier, according to call report data from the National Credit Union Administration.