Three Ohio credit unions have completed a rare three-institution merger to form Pathways Financial Credit Union.
The combination of Members First Credit Union, Powerco Credit Union and Western Credit Union has created a $190 million-asset institution.
The credit union has adopted a unique branding strategy, with each of its six branches co-branded with the new name and the original credit union moniker. This will allow Pathways to build on the brand equity created by each of the predecessor institutions, Pathways said.
"We collectively decided to pursue this strategy with the intention of developing a credit union business model with long-term sustainability that allows us to provide the convenience and the competitively priced financial services that our members expect and deserve," said Greg Kidwell, Pathways' president and the former head of Members First. Mike Shafer, who had led Powerco, is the combined entity's chief executive.
Pathways will serve more than 25,000 members at American Electric Power and Motorists Insurance, as well as residents in the Franklin, Delaware, Madison and Union counties.
