7 17, Geauga Credit Unions to Merge, Serving 130K Members
April 1 will mark the official merger of 7 17 Credit Union with Geauga Credit Union, according to information posted on the 7 17 website.
April 1 will mark the official merger of 7 17 Credit Union with Geauga Credit Union, according to information posted on the 7 17 website.
Ribbon-cutting ceremonies are scheduled at both the Burton and Middlefield Geauga Credit Union branches, ahead of the final consolidation of the two credit unions in November, according to a letter from 7 17 CEO Jonathan Demmier to GCU members.
“On April 1, the name and signs will change. However, you should continue to use your Geauga County branches,” he wrote, adding that further changes will be announced before the process is complete in November.
“The merger with Geauga Credit union adds to our branch footprint,” he said.
Originally established more than 60 years ago for hourly workers at the Packard Electric plant in Warren, 7 17 has since grown to 12 branches in Warren, Cortland, Vienna, Howland, Hubbard, Canfield, Austintown, Boardman, Kent, Ravenna, and Canton. Membership is open to those living or working in Trumbull, Mahoning, Columbiana, Portage, Summit and central Stark counties, according to the website. Several other credit unions are also expected to join 7 17.
“The merged entity will operate under the 7 17 Credit Union name and is expected to serve over 130,000 members,” the website states.
The Geauga Credit Union merger has been in the works for about a year, Demmier said in a phone interview March 18.
“I spent a lot of time in Burton Geauga Credit Union last year,” he said. “We’re really excited to become part of the community and to expand the work we’re doing there — helping their 6,500 members to improve their lives.”
Demmier, a Chagrin Falls resident, said the Burton and Middlefield locations serve rural communities that attracted 7 17.
“The Geauga Credit Union merger takes us into a part of the state that allows us to kinda connect with small towns, as well,” he said. “I grew up in a small town. For me, it feels like we’re coming home.”
In the letter to GCU members, Demmier described the merger as the largest in 7 17’s history, allowing the credit union to absorb $108 million in assets from GCU.
“The merger marks a big leap towards our larger plan and commitment to Northeast Ohio. The merger will unite two financially strong, member-focused organizations and expand 7 17’s reach in Northeast Ohio to Geauga and Ashtabula counties, giving members access to branches in Burton and Middlefield,” he wrote. “With new branches planned to open in Streetsboro and Stow in spring of 2026, this gives members four new branches to use in greater Northeast Ohio — and marks a 33% increase in branches for 7 17. 7 17 Credit Union will also strengthen its presence in greater Northeast Ohio through extensive community and business relationships.”
The merger aligns with 7 17’s long-term growth strategy, Demmier said.
“The Geauga Credit Union Board sought a strong partner that could provide the scale and financial strength necessary to deliver the enhanced products, services and technology members expect in a competitive financial landscape,” he told GCU members.
In addition to competitive interest rates and expanded services, members will have access to shared branches with more than 5,000 credit unions nationwide. Demmier emphasized that financial education is also a priority.
“One thing we like to really focus on is financial education, particularly for young individuals,” he said. “Across the country, 60% of Americans do not have $1,000 in savings. Our mission is to help young people save their first $1,000.”
The credit union offers high yield savings with 7.17% interest on that first $1,000. “We want to teach children the value of saving and get children started out on the right path,” Demmier said.
Leadership from both credit unions is committed to a seamless transition for members, according to a press release.
“We are excited for this next step. Members of Geauga Credit Union will now be part of one of the best and strongest credit unions in Ohio,” said GCU Board President Dan Burkholder. “We are looking forward to our members having access to 7 17’s ‘No Fee’ Mortgages, high-yield savings products, and a broad array of commercial and business banking products.”
The ribbon-cutting ceremonies are scheduled for 10 a.m. April 1 at 14499 North Cheshire Street in Burton Village and 1 p.m. April 1 at 14860 North State Ave. in Middlefield Village.
