The $194 million Firefighters Community Credit Union in Cleveland is completing its second merger in as many months, taking in the 146-member, $222,000 Lane Metropolitan CME Church Credit Union.
Last month, the 27,500-member merged the $10.3 million United Food & Commercial Workers Local 880 Credit Union, also in Cleveland.
After 46 years, Lane Metropolitan CME Church CU will close its operation at 2136 E. 46th St. on Dec. 30 and its accounts will be incorporated into FFCCU on Dec. 31, the remaining credit union said.
“The merger will enable Lane CME Church Credit Union members to receive expanded financial services,” Lane President Charles Capers wrote in a letter to members on Nov. 24. “In other words, you will now belong to a financial organization that can better fulfill your needs in the spirit of the credit union movement.”
FFCCU President/CEO Ben Laurendeau explained the transition at a meeting with the church credit union’s members on Dec. 15, FFCCU said.
FFCCU said it will continue to seek opportunities to expand its services across Cleveland, and is planning to renovate its downtown office on St. Clair Avenue to accommodate the growth. The credit union’s executive and administrative personnel will take up temporary headquarters at the former UCFW Local 880 Credit Union’s office while the branch in the main office remains open.
FFCCU was founded in 1936 and now has four branches.