DUBLIN, Ohio—Ohio HealthCare Federal Credit Union has embarked on a new loan participation partnership with two other Ohio healthcare credit unions.
Atrium Credit Union in Middletown and Mercy Health Partners FCU in Toledo are to be part of the new offering, Ohio HealthCare stated.
The $81-million Ohio HealthCare FCU said it has bundled a portfolio of loans and sold them to the two CUs. The portfolios consist of various consumer loans across agreeable risk scores and terms, Ohio HealthCare stated.
“This kind of program is mutually beneficial,” said Bill Butler, CEO of Ohio HealthCare FCU, in a statement. “The participating credit unions are benefiting with a diversified loan portfolio, resulting in an improved loan-to-share ratio. Our credit union is benefiting by building and maintaining liquidity so that we may continue to serve our members with additional loans.”
“We really appreciated the opportunity to participate in this new venture,” said Cindy Cottongim, CEO of Atrium Credit Union, in a statement. “It is a win-win for all parties involved and we get to live the credit union cooperative spirit.”
“This is one more way healthcare credit unions can work together to effectively serve our members,” said Butler. “We must find creative ways to thrive and continue to offer our healthcare members the services they need and want.”
Ohio HealthCare FCU currently serves 13,000 healthcare professionals and their families. The credit union holds a Trade Industry Profession charter for healthcare in Ohio.