Member Deposits Remain Protected to $250,000, Member Services Uninterrupted
ALEXANDRIA, VA. (Feb. 1, 2016) – Montgomery County Credit Union of Dayton, Ohio, has merged into Bridge Credit Union of Columbus, Ohio, effective Jan. 31, the National Credit Union Administration announced today.
The new Bridge Credit Union members should experience no interruption in services, and member deposits remain protected by the National Credit Union Share Insurance Fund. Administered by NCUA, the Share Insurance Fund insures individual accounts up to $250,000, and a member’s interest in all joint accounts combined is insured up to $250,000. The Share Insurance Fund separately protects IRA and KEOGH retirement accounts up to $250,000. The Share Insurance Fund has the backing of the full faith and credit of the United States.
Members can contact Bridge Credit Union by telephone at 614-466-4988 or in person at the credit union’s main office at 1980 West Broad Street, Columbus. Bridge Credit Union is open Monday through Friday from 8 a.m. to 4 p.m. Members can continue to transact business at both former Montgomery County Credit Union branch locations in Dayton at 409 East Monument Avenue (937-224-4050) and 2222 Philadelphia Drive (937-278-2612).
Bridge Credit Union is a federally insured, state-chartered credit union that, prior to the merger, served 7,714 members and had assets of $52,161,421, according to the credit union’s most recent Call Report.
The Superintendent of the Ohio Division of Financial Institutions placed Montgomery County Credit Union into conservatorship on April 23, 2015, and appointed NCUA as agent for the conservator. The two agencies worked together to address issues affecting the credit union’s safety and soundness and determined that merging Montgomery County Credit Union into Bridge Credit Union was in the best interests of the members.
At the time of the merger, Montgomery County Credit Union was a federally insured, state-chartered credit union with 6,254 members and assets of $26,502,980, according to the credit union’s most recent Call Report. Chartered in 1963, Montgomery County Credit Union served anyone who lived, worked, worshiped or attended school in Montgomery County, Ohio.