ALEXANDRIA, Va. (Sept. 1, 2016) – Eaton Family Credit Union, based in Euclid, Ohio, has officially merged with Cory Methodist Church Credit Union of Cleveland, Ohio, as of today, announced by the National Credit Union Administration (NCUA). This strategic merger ensures continued, uninterrupted financial services for all members.
Members of the former Cory Methodist Church Credit Union will now seamlessly transition to Eaton Family Credit Union, gaining access to a wider range of financial products and services. Eaton Family Credit Union is committed to providing a smooth transition for all new members. For any inquiries, new members are encouraged to reach out to Eaton Family Credit Union by phone at 216-920-2000 or visit the main office located at 330 Babbitt Road, Suite 100, Euclid. The Eaton Family Credit Union branch offers convenient operating hours: Monday, Tuesday, and Thursday from 8:30 a.m. to 5 p.m., Wednesday from 10 a.m. to 5 p.m., Friday from 8:30 a.m. to 6 p.m., and Saturday from 8:30 a.m. to 1 p.m. Importantly, members can still conduct their banking activities at the previous Cory Methodist Church Credit Union location, now operating as a branch of Eaton Family Credit Union, situated at 1117 East 105th Street, Cleveland.
Ensuring the Security of Your Deposits with Eaton Family Credit Union and NCUA Insurance
Rest assured, member deposits at Eaton Family Credit Union remain fully protected up to $250,000 by the National Credit Union Share Insurance Fund, a testament to the safety and security of your funds. Administered by the NCUA, this federal insurance provides the same level of protection as FDIC insurance for banks. Individual accounts are insured up to $250,000, and this coverage extends to joint accounts, with each member’s interest insured up to $250,000 in total joint holdings. Furthermore, IRA and KEOGH retirement accounts are separately insured up to $250,000. Backed by the full faith and credit of the United States government, the Share Insurance Fund offers unparalleled security for your savings. For members seeking detailed information about their insurance coverage, the NCUA provides comprehensive resources online at the Share Insurance Coverage page on their MyCreditUnion.gov website. Eaton Family Credit Union prioritizes the financial well-being of its members, and this merger reinforces that commitment.
About Eaton Family Credit Union and the Merger Details
Eaton Family Credit Union is a state-chartered and federally insured credit union, demonstrating its strong regulatory compliance and financial stability. Prior to this merger, Eaton Family Credit Union was a thriving institution serving 14,636 members with assets totaling $60,520,539, according to the most recent Call Report data. Cory Methodist Church Credit Union, chartered in 1958, primarily served members of the Cory Methodist Church and various select employee groups in the Cleveland area. At the time of the merger, Cory Methodist Church Credit Union had 650 members and assets of $1,466,272, as per their latest Call Report.
The merger was initiated after the Ohio Division of Financial Institutions placed Cory Methodist Church Credit Union into conservatorship on February 4, 2016, appointing the NCUA as the agent for conservator. Working collaboratively, both agencies determined that a merger with Eaton Family Credit Union was the most beneficial path forward for the members of Cory Methodist Church Credit Union, ensuring their financial stability and access to enhanced services. This strategic decision underscores Eaton Family Credit Union’s strength and its dedication to expanding its reach and serving the community.
