COLUMBUS, Ohio–Two Ohio credit unions have announced plans to merge, with one continuing to operate as a division of the other. The $290-million Pathways FCU said it will merge in the $89-million Incenta FCU in Englewood, Ohio.
Operational integration of the two CUs is expected to be completed later this year.
The Incenta branches located in Dayton, Springfield and Aberdeen, Ohio, will retain the Incenta brand, operating as a division of Pathways Financial Credit Union.
“This strategic merger will provide Pathways with a greater presence across the state of Ohio as we help support Incenta’s serving of the Dayton, Springfield, and southern Ohio markets,” said Michael Shafer, CEO of Pathways, who will remain CEO of the combined organization. “We will also benefit by achieving greater economies of scale, offering more services for our members, and building a platform for continued growth.”
Benefits for Members
Deborah Cadle, president/CEO of Incenta, will become senior vice president and lead the Southwest Ohio region.
“We are very excited about the benefits that this merger will create for our members, employees and for the future growth and prosperity of our combined credit union,” said Cadle. The Pathways business model allows us to maintain our brand in the Dayton, Springfield and Aberdeen/Maysville markets. This was a very important consideration for our board and management team as we reviewed potential merger partners.”
The combined credit union will serve approximately 36,000 members.