Akron Municipal Workers Credit score Union is searching for members’ approval to merge into Towpath Credit score Union in close by Fairlawn, Ohio.

AMECU has simply $6.4 million in property and serves about 1,200 members, in contrast with $150 million in property at Towpath. The deal would broaden department entry for the previous Akron Municipal members, together with offering credit score and debit card companies, cell banking and mortgage loans.

Approval of the deal would additionally see AMECU drop federal deposit insurance coverage. Towpath Credit score Union is privately insured by American Share Insurance coverage. All accounts will nonetheless be insured as much as $250,000.

Members have till Dec. 1 to forged a poll for or in opposition to the deal, and at the least 20% of the overall membership should take part within the voting course of.

Akron Municipal Workers Credit score Union posted a lack of practically $70,000 throughout the first three quarters of this yr, in comparison with earnings of greater than $21,000 in the identical interval final yr.