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HAMBUCO FCU, Mutual Benefit Credit Union propose merger

FAIRFIELD, Ohio and CINCINNATI - HAMBUCO Federal Credit Union and the Mutual Benefit Credit Union, Inc. have signed a letter of intent to merge. Twenty percent of the HFCU membership must vote on the merger proposal by November 27, 2001. If the merger passes it will create one of the...

By Staff Writer | Updated on November 06, 2001

FAIRFIELD, Ohio and CINCINNATI – HAMBUCO Federal Credit Union and the Mutual Benefit Credit Union, Inc. have signed a letter of intent to merge. Twenty percent of the HFCU membership must vote on the merger proposal by November 27, 2001. If the merger passes it will create one of the largest credit unions in Greater Cincinnati. The main office will be the current HFCU headquarters based in Fairfield with HFCU President/CEO Tim Boellner also heading the new organization. Considered a voluntary merger of equals, if approved, the newly joined credit union would have assets totaling nearly $130 million and serve over 22,000 members from nine locations in the tri-state area. “A united credit union would allow us to continue to be on the competitive edge with both our products and technology,” said Boellner. “As we move into the future, members will demand financial products which are fast, convenient and delivered with excellent member service. This merger will provide us with the resources necessary to offer this type of delivery to our membership.” Should this merger pass, the names of the combined credit unions would change within one year of the merger agreement.

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