WARREN, Ohio–7 17 Credit Union has announced plans to invest $50 million in Summit County, Ohio over the next five years, including the opening of nine full-service and 10 mini branches.
The expansion will include locations in Aurora, Stow, Streetsboro and Akron. Its FOM includes six counties in Northeast Ohio.
The credit union has also announced a separate initiative to make homeownership more affordable.
Founded in 1957, 7 17 Credit Union serves members in six counties across Northeast Ohio.
“We are looking to fill in the gap,” President John Demmler said of its market expansion.
The first branches are expected to open within the next year in Aurora, Stow and Streetsboro.
The initial Akron branches will be downtown and in the Ellet and Wallhaven neighborhoods.
Commitment to Housing
In addition, as the CU Daily previously reported, as part of its plans to expand into Summit County, the credit union said it also plans to work toward making buying a home more affordable in Northeast Ohio.
Among the steps it said it will be taking are the waiving and eliminating of some closing cost fees to offering lower interest rates to working directly with builders to drive down the cost of a new home.
7 17 CU said it is committing as much as $100 million over several years toward the initiative.
“We are doing everything we can to make homeownership more accessible,” Demmler said.
