COLUMBUS, Ohio – Three local credit unions; Members First CU, Powerco CU and Western CU have completed a rare three-combination to form a new $190 million credit union called Pathways Financial CU.
The newly formed credit union has adopted a unique branding strategy with each of its six branches co-branded with the new name and underneath it the original credit union moniker. This strategy enables Pathways to leverage and build upon the brand equity cultivated by each respective partner credit union among its members and the communities that it serves.
“We collectively decided to pursue this strategy with the intention of developing a credit union business model with long-term sustainability that allows us to provide the convenience and the competitively priced financial services that our members expect and deserve,” said Greg Kidwell, president Pathways, who had headed Members First. Mike Shafer, who had headed Powerco, will be CEO of the combined entity.
Pathways will serve more than 25,000 members at American Electric Power CO and Motorists Insurance, as well as residents in the four surrounding counties of Franklin, Delaware, Madison and Union.