Ohio credit unions with firefighter roots merge
Monarch Federal Credit Union in Miamisburg, Ohio, has merged into Firefighters & Company Federal Credit Union in Dayton, Ohio.
The $10 million-asset Monarch, which had about 1,000 members, decided to combine with Firefighters so it could offer additional products and services to its members, according to a press release on Tuesday. The deal was completed on Oct. 1, and Monarch’s one branch will remain open.
“We welcome the MFCU members as part of the Firefighters & Company FCU family. With this merger, the MFCU members will have access to the extensive range of products and services that we provide,” Thomas L. Newton, president and CEO of Firefighters & Company, said in a press release.
The $65 million-asset Firefighters & Company, formerly called Dayton Firefighters Federal Credit Union, serves those who live, work or worship in three counties and has about 6,500 members. The institution earned $271,000 through June 30, up more than 33% from the same period a year earlier, according to call report data.
Monarch earned about $26,000 through the first six months of the year, an almost 92% increase from the same period in 2018, according to call report data.