COLUMBUS, Ohio – If the merger between Kemba Financial CU and Core One CU is finalized, Central Ohio will be home to one of the region’s largest CUs. According to Business First of Columbus, the $290 million Kemba Financial and the $132 million Core One are looking to close the merger deal by the third quarter. Once the deal is completed, Gerald Guy, president/CEO of Kemba will likely become the president of the new CU. Jeff Swartz, who has been CEO of Core One for 30 years, would retire. The CUs said the merger is being driven by their mutual desire to provide improved services to their members – Kemba Financial has about 39,000 members, and Core One has nearly 11,500. The deal would expand the market reach of both CUs, as well as increase their ATM and branch office networks and save money by streamlining operations. Guy said the two CUs fit well together geographically. Kemba’s branches are primarily on the north and east sides of Columbus, and Core One’s only city branch is on the west side of the city. Both CUs also operate branches outside Central Ohio. The CUs said they are not anticipating any job cuts or branch closings. However, due to some job duplications that will result from the merger, any job reduction would be handled through attrition. The merger still needs to be approved by the Ohio Department of Commerce and the NCUA, and Guy emphasized the merger still has a ways to go.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including and

Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.