Monarch Federal Credit Union’s existing office at 170 Monarch Lane, just off Interstate 75 exit 44, will remain open and their current employees will continue to serve their members, according to a statement about the deal.
Monarch started operating as Firefighters & Company Federal Credit Union as of Oct. 1. Just prior, Monarch reported 1,051 members and $9.75 million in assets, according to the National Credit Union Administration.
With the acquisition of Monarch, Firefighters has gone from about $67.1 million in assets and 5,467 members to nearly $77 million in assets and about 6,500 members.
“We are excited for this merger for our members. This is really a step forward. I am looking forward to our MFCU members receiving continued excellent service at Firefighters & Company Federal Credit Union,” said Doug Hemmelgarn, manager of Monarch, who has been with the credit union for 27 years.
“We welcome the MFCU members as part of the Firefighters & Company FCU family. With this merger, the MFCU members will have access to the extensive range of products and services that we provide.” said Thomas Newton, Firefighters president and CEO.
The Firefighters & Company Federal Credit Union is headquartered in the Oregon District at 338 S. Patterson Blvd. The credit union is open to anyone that lives, works, worships or attends school in Montgomery, Greene and Miami County.
Last year, Firefighters also acquired St. Helen Federal Credit Union, which was a 684-member credit union and the branch is still open on St. Helen parish grounds in Riverside.