October 3, 2016, Columbus, OHIO -- Telhio Credit Union announced today that it has merged with Chaco Credit Union, based in Hamilton, Ohio. The merger makes Telhio the fifth largest credit union in the state, with 72,000 members and approximately $780 million in assets. "Telhio and Chaco share the same core values, particularly our concern for and service to the local community. It was a natural fit to merge with such a highly respected credit union that has served southwestern Ohio for so many years, much like Telhio has done in central Ohio. We are proud to welcome the members of Chaco into the Telhio family," said Leslie Bumgarner, President and CEO, Telhio Credit Union.
Telhio is completing its conversion to a new core banking system today, and expects to upgrade Chaco's system over the next eight months, along with expanding current Telhio services to Chaco members during the same period.
By merging with Telhio, the members of Chaco will enjoy numerous Telhio member benefits, such as mobile banking, mobile deposit and bill pay, access to competitive-rate mortgages, home improvement loans, auto loans and more.
The merger is part of a growth strategy at Telhio to ensure that individuals in the local community who value credit union membership will continue to experience the high level of member service they expect, while also ensuring that they have access to the latest technology and financial services available to larger financial institutions.
About Telhio Credit Union
Telhio is open to anyone who lives, works, worships or goes to school in Franklin, Fairfield, Delaware, Licking, Madison, Pickaway, Union, Hamilton, Warren, Butler and Preble counties. Founded in 1934, originally as the credit union for the Columbus Telephone Co., Telhio is a not-for-profit financial cooperative where its members are also its owners. Telhio offers six branching offices throughout central Ohio and nearly 4,000 shared branching locations nationwide. Additionally, Telhio credit union participates in the highest level of combined federal and private share savings insurance available, insuring deposit accounts up to $500,000.* For more information, contact Telhio Credit Union at 614-221-3233 or visit www.telhio.org.
*Federally insured by NCUA. Additional coverage up to $250,000 provided by Excess Share Insurance Corporation, a licensed insurance company.
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