Hamilton-based Chaco Credit Union merges with Telhio Credit Union

A local credit union operating for nearly eight decades in Hamilton is merging with a Columbus-based credit union, a deal that will make the new institution one of the five largest credit unions in Ohio.

The merger between Hamilton-based Chaco Credit Union and Telhio Credit Union, which went into effect Saturday, is designed to benefit customers of both credit unions in many ways, with expanded branch and ATM locations and additional products and services rolled out over the next years, said Brooke Taylor, marketing manager.

“We’re not losing any branches, we’re not losing any services, we’re not losing any jobs, so nothing has changed to that effect,” Taylor told the Journal-News.

Chaco Credit Union, which was originally the credit Union for Champion Paper, got its start in 1938, while Telhio Credit Union was formed in 1934, she said.

The new institution will go by the new moniker “Chaco: A Telhio Credit Union” in Butler, Warren, Hamilton and Preble counties, while Telhio’s name will remain the same, Taylor said.

The new entity serves 11 counties in Ohio and will have assets in excess of $780 million. With the merger, it has become one of the five largest credit unions in Ohio, serving more than 72,000 members.

“One of the things that motivated us to merge is our shared focus on community,” said Leslie Bumgarner, CEO of Telhio Credit Union. “By coming together, we can impact our local communities and broaden this impact by having more boots on the ground that can serve our members and the community-at-large.”

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