Home Business Superior Credit Union to acquire Southeast Financial CU’s Ohio assets

Superior Credit Union to acquire Southeast Financial CU’s Ohio assets

Superior Insurance Services offers auto, home, life, and business insurance to Superior Credit Union members. Superior Insurance Services is an independent insurance agent representing many leading insurance companies, including Progressive, ASI, United Fire Group, Wyandot Mutual, and Travelers.

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LIMA—Following state and federal regulatory approval earlier this month, Southeast Financial Credit Union’s Ohio members will become members of Superior Credit Union, based in Lima.

Superior will acquire Southeast Financial Credit Union branches in Fostoria and Tiffin, Ohio, including over 7,000 members and $60 million in deposits. Superior will acquire all Southeast FCU loans, deposits, and fixed assets in Ohio.

On January 1, 2016, all Southeast accounts with the exception of certificates of deposit will be transferred to Superior Credit Union. Certificates of deposits will be transferred at final maturity.

Superior was recently granted an expansion of their membership area and can now accept new members who live, work, worship, or attend school in 17 northwest Ohio counties (up from 6 counties previously). Those counties include Allen, Auglaize, Putnam, Van Wert, Mercer, Hardin, Paulding, Defiance, Henry, Wood, Hancock, Seneca, Wyandot, Marion, Union, Logan, and Shelby.

“We’re excited to have this opportunity to bring our seasoned products and services to our new members in Seneca County,” said Phil Buell, CEO, Superior Credit Union. “We feel strongly that this acquisition will be a win-win for all concerned. I believe our new members will appreciate our commitment to the community, comprehensive product offering, and our focus on member service.”

Buell notes that Superior offers one of the industry’s highest rated online and mobile banking products, and is the leading mortgage lender in Allen, Auglaize, and Putnam counties.

Superior Credit Union, headquartered in Lima, Ohio, is a full-service member-owned financial cooperative that serves members in 17 Northwest Ohio counties. Superior CU currently has 10 office locations serving over 53,000 members. With assets of over $525 million, Superior was named one of the Top 200 Healthiest Credit Union in America in 2015. The credit union also provides consumer and mortgage loans, brokerage services, insurance services, checking and savings accounts, and small business services and loans.