Credit unions in OH decline with increased mergers - WLOX.com - The News for South Mississippi

Credit unions in OH decline with increased mergers

AKRON, Ohio (AP) - Membership and assets of credit unions in Ohio have been growing despite a decline in their numbers as more of the institutions merge.

The Akron Beacon Journal (http://bit.ly/1bt1if3) reports that the number of credit unions has dropped 12.5% over the past five years in Ohio to 356. Industry experts say the decrease mirrors a nationwide decline as consolidation becomes widespread in the alternative banking industry. But they say remaining credit unions are becoming stronger.

Membership rose from 2.6 million to 2.7 million and assets climbed from $19.3 billion to $24.4 billion over the same time period.

A state Department of Commerce official says some smaller credit unions that had not kept up with technology and weren't attracting new members are among those closing or merging with larger ones.

 

Information from: Akron Beacon Journal, http://www.ohio.com

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • NEWSMore>>

  • Missing man found safe

    Missing man found safe

    Monday, July 24 2017 3:55 PM EDT2017-07-24 19:55:21 GMT

    A man who was reported missing last week in Gulfport has been found safe.

    More >>

    A man who was reported missing last week in Gulfport has been found safe.

    More >>
  • VIDEO: One in custody after Gulfport chase

    VIDEO: One in custody after Gulfport chase

    Monday, July 24 2017 3:22 PM EDT2017-07-24 19:22:19 GMT
    (Photo source: Chuck Coats)(Photo source: Chuck Coats)

    One person is in custody after a chase through Gulfport and parts of Harrison County.

    More >>

    One person is in custody after a chase through Gulfport and parts of Harrison County.

    More >>
  • Rain puts Pascagoula's new football turf on the clock

    Rain puts Pascagoula's new football turf on the clock

    Monday, July 24 2017 1:55 PM EDT2017-07-24 17:55:23 GMT
    Rain has slowed down construction crews as they attempt to put a new field turf at War Memorial Stadium (Photo Source: WLOX News Now)Rain has slowed down construction crews as they attempt to put a new field turf at War Memorial Stadium (Photo Source: WLOX News Now)

    The Pascagoula Panthers open the 2017 football season on the road. In fact, their first three games are road contests. That scheduling quirk may give field turf crews just enough time to get War Memorial Stadium ready for the September 8 home opener. The wet weather in South Mississippi is placing quite the burden on construction workers as they attempt to complete stadium renovations. The project was suppose to be finished before the beginning of Pascagoula's football season.

    More >>

    The Pascagoula Panthers open the 2017 football season on the road. In fact, their first three games are road contests. That scheduling quirk may give field turf crews just enough time to get War Memorial Stadium ready for the September 8 home opener. The wet weather in South Mississippi is placing quite the burden on construction workers as they attempt to complete stadium renovations. The project was suppose to be finished before the beginning of Pascagoula's football season.

    More >>
Powered by Frankly