WARREN, Ohio —The $1.9-billion 7 17 Credit Union here intends to merge in $2-million Teamsters Local 92 Federal Credit Union, based in in Canton, the Tribune Chronicle reported.
The Teamsters credit union’s single branch will close, and its approximately 500 members will be served through 7 17’s North Canton branch beginning this month.
The combination follows a support arrangement launched in August, when 7 17 began providing operational and compliance assistance to Teamsters Local 92 FCU. As technology and regulatory demands increased, Teamsters leadership invited 7 17 to serve as a merger partner, the credit union said.
“Our history is deeply rooted in the labor movement,” 7 17 President and CEO John Demmler said in a statement, describing the merger as an extension of that focus.
Beyond its existing presence in the Canton area, 7 17 plans to open additional branches in the coming months in Akron’s Wallhaven neighborhood and elsewhere in Akron as it expands its footprint across northeast Ohio, the Tribune Chronicle reported.