DAYTON, Ohio—Montgomery County CU here has merged into Bridge Credit Union of Columbus, Ohio, the NCUA announced Monday.
The merger became effective Jan. 31.
The Superintendent of the Ohio Division of Financial Institutions placed MCCU into conservatorship on April 23, 2015, and appointed NCUA as agent for the conservator. The two agencies worked together to address issues affecting the credit union’s safety and soundness and determined that merging Montgomery County into Bridge Credit Union was in the best interests of the members, NCUA stated.
At the time of the merger, Montgomery County had 6,254 members and assets of $26 million. Chartered in 1963, the CU served anyone who lived, worked, worshiped or attended school in Montgomery County, Ohio.
Prior to the merger, Bridge Credit Union served 7,714 members and had assets of $52 million.