The $17.4 million MedPro Federal Credit Union in Akron, Ohio, is set to merge into the $52 million Ohio HealthCare Federal Union in Dublin, Ohio, on Aug. 1.
Under the merger agreement, however, both credit unions will continue to do business under their brand names and run their locations. The merger also forms the Healthcare Credit Union System that will enable the credit unions to share back office operations, expenses and other resources, the credit unions said.
“MedPro FCU is an ideal partner to begin building the HealthCare Credit Union System,” said Bill Butler, president/CEO of Ohio HealthCare FCU. “We share the common passion of serving Ohio’s healthcare workforce. Through this partnership, the Northeast Ohio and Central Ohio healthcare communities will have a credit union dedicated exclusively to their financial needs.”
Ohio HealthCare FCU said it would like to expand its Healthcare Credit Union System by partnering with other credit unions that serve health care workers across the state.
“It is our hope that other credit unions will partner with us so we are able to offer a larger credit union specially targeted to health care professionals,” said Jaime Crooks, marketing director for Ohio HealthCare FCU.
There are approximately 11 credit unions in the Buckeye State that serve health care professionals and their families, she said.
MedPro FCU, which serves 4,219 members, was originally founded in 1948 at Children’s Hospital Federal Credit Union. Over the years, the credit union expanded its field of membership to include all hospitals and medically-affiliated professionals throughout the Greater Akron area.