WARREN, Ohio–The $860-million Seven Seventeen Credit Union said it will be absorbing Kent Credit Union via merger effective Nov. 1.
The 51-year-old Kent CU, which has $45 million in assets and 7,356 members, said in a released statement that it had become to difficult to operate in a competitive marketplace.
"We felt that our membership would be best served in the future by a larger credit union that had the resources to not only provide the latest technologies, but to handle the skyrocketing cost of doing business in the current regulatory environment," said Kent Credit Union president and CEO Joseph Crawfis. "Seven Seventeen has a reputation for being progressive and member focused."
Seven Seventeen has 67,000 members.