WARREN, Ohio – 717 Credit Union announced Thursday that it will merge with Geauga Credit Union, expanding its footprint in northeastern Ohio.
The merger has received regulatory approval through the Ohio Division of Financial Institutions and will be official April 1, with operational integration scheduled in November.
The merged entity will operate under the 717 Credit Union name and is expected to serve more than 130,000 members.
Absorbing Geauga Credit Union’s $108 million in assets will be the largest merger in 717 history, the credit union said in its announcement.
The merger also further expands 717’s reach in northeastern Ohio, especially Geauga and Ashtabula counties. Members will have access to branches in Burton and Middlefield, and new branches are planned to open in Streetsboro and Stow in spring.
“This is about more than growth. It’s about people,” said John Demmler, 717 CEO. “While our reach is expanding, we’re keeping what matters most at the forefront: personal relationships, a member-first commitment and a focus on building a stronger community.”
Combined, the two credit unions have 678 workplace partners, including 197 in Portage, Stark and Summit counties. There will be 31,907 members in Portage, Stark, Summit, Geauga and Ashtabula counties and 90 dealership partners in the same area.
According to the announcement, after sustained growth, the Geauga Credit Union board sought out a strong partner to meet its 6,500 members’ expectations of financial strength, enhanced products and technology.
“We are excited for this next step. Members of Geauga Credit Union will now be part of one of the best and strongest credit unions in Ohio,” said Dan Burkholder, Geauga board president. “We are looking forward to our members having access to 717’s ‘No Fee’ mortgages, high-yield savings products and a broad array of commercial and business banking products.”