CINCINNATI – Two Cincinnati-area credit unions said they have completed their merger.
The $523.5-million Sharefax Credit Union and the $200.5-million Emery FCU said they have combined into an operation with nine branches across Greater Cincinnati serving approximately 40,000 members.
As the CU Daily reported as part of its ongoing series on mergers, at the time members were asked to vote on the merger Emery FCU was more profitable than Sharefax, which is 2.5 times larger, reporting $205,632 in net income for Q1, with net worth of 8.69%. It had $1.24 million in net income at year-end 2024. Sharefax CU reported $92,262 in net income as of the same date, with net worth of 9.68%. SCU had $1.14 million in net income as of the end of 2024.
The Benefits
According to the two CUs, members of both credit unions will benefit from the merger through:
• Increased access to nine full-service branch locations
• Enhanced loan and savings options
• Commitment to low fees and high-quality service
• Greater investment in local businesses and community programs
“This is a milestone moment for our members and the communities we serve,” Sharefax CU CEO Todd Cain said in a statement. “We’re proud to unite two trusted institutions under one mission — to serve people, not profit.”
