Local Credit Unions Join Forces to Create Credit Union Financial Center

New Center Provides More Cost-Effective Way to Better Serve Members

CINCINNATI (PRWEB) May 11, 2004 -- Cincinnati Police Federal Credit Union and Emery Federal Credit Union are pleased to announce the opening of a new jointly operated branch located at 5070 Glencrossing Way in Western Hills. Named the "Credit Union Financial Center," the new branch will serve memberships of both institutions.

"Cincinnati Police FCU and Emery FCU each have been interested in opening a location on the West Side, however, given the costs involved, it had been pushed further and further into the future," said Tina Wocher, CEO of Cincinnati Police FCU. "With this joint venture, both credit unions get to increase access for our members while still keeping costs at a minimum."

Under the agreement, both credit unions retain their individual identities with their original membership. All expenses are divided equally and each credit union will use its own data processing system.

"The economies of scale come from our unique staffing arrangement," said John Wagner, CEO of Emery Federal Credit Union. "Our five-person staff, consisting of an office manager, a head teller, and three part-time member service representatives, are cross trained to perform basic transactions on the systems of both credit unions."

In the future, Cincinnati Police FCU and Emery FCU hope to continue branch expansions through the sharing of their resources. "Its a concept whose time has definitely come," said Wocher.

The public is invited to view the new location at a grand opening celebration that is currently underway. The center will be open weekdays from 9:00 A.M. to 6:00 P.M., and from 9:00 A.M. to 1:00 P.M. on Saturdays.