The $3.5 million Lima Ohio Postal Employees Federal Credit Unionin Lima, Ohio, will merge with the $26.8 million TopMark FederalCredit Union also of Lima on Oct. 1.
|Following the merger, Connie L. Arthur, president/CEO of LimaOhio Postal Employees FCU, will retire after 19 years of service,according to a letter to TopMark FCU members about the merger.
|The merger has received regulatory approvals and Lima OhioPostal Employees FCU members voted to approve the consolidationAug. 13, according to TopMark FCU.
|Like many very small credit unions, Lima Ohio Postal Employees has hadfinancial challenges. The credit union has posted declines in loan,fee and investment income over the past few years and recorded atotal net income loss of more than $93,000 from 2009 to 2012,according to NCUA financial performance reports.
|Lima Ohio Postal Employees, chartered in 1936, served 504members.
|Chartered in 1963, TopMark FCU serves 5,967 members.
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