Youngstown City Schools Credit Union Merges with 717
WARREN, Ohio – 717 Credit Union is welcoming more than 1,100 Youngstown City Schools Credit Union members after a successful merger.
“We are excited to officially welcome the members of YCSCU. This partnership is powered by our mutual desire to offer expanded service to our members and a heartfelt commitment to financial inclusion,” said John Demmler, president and CEO of 717. “This merger reaffirms our commitment to Youngstown and to the education community. It is another big step as 717 continues to deepen its ties to the Youngstown area.”
The merger was finalized Dec. 1 with approval of the Ohio Department of Financial Institutions and the National Credit Union Administration. With the completion of the merger, 717 has nearly 120,000 members and $1.6 billion in assets.
“YCSCU, like many smaller credit unions and banks, found operating in a competitive marketplace increasingly challenging due to the cost and complexity of technology and regulatory compliance,” a news release from 717 states. “Their credit union’s board of directors decided to seek a strong merger partner in order to best serve members long term. They found that in 717 Credit Union – from an unwavering commitment to member respect since 1957, to an expanded offering of financial services and products.”
The YCSCU office inside the Youngstown Early College High School closed Nov. 30.
Published by The Business Journal, Youngstown, Ohio.