Draft:717 Credit Union
Submission declined on 9 August 2024 by CNMall41 (talk).
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| Submission declined on 5 August 2024 by HitroMilanese (talk). This draft's references do not show that the subject qualifies for a Wikipedia article. In summary, the draft needs multiple published sources that are: Declined by HitroMilanese 4 months ago.
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| Submission declined on 5 August 2024 by Jdcomix (talk). This draft's references do not show that the subject qualifies for a Wikipedia article. In summary, the draft needs multiple published sources that are: Declined by Jdcomix 4 months ago.
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Comment: I only reviewed the sourcing added since last decline. It is all routine announcements that does not meet WP:ORGCRIT. CNMall41 (talk) 04:15, 9 August 2024 (UTC)
| Formerly | Seven Seventeen Credit Union |
|---|---|
| Company type | Credit Union |
| Industry | Financial services |
| Founded | 1957 |
| Headquarters | Warren, Ohio , |
Number of locations | 13 |
| Total assets | 1.6 Billion USD |
| Members | 100,000+ |
Number of employees | 325 (2021) |
717 Credit Union (previously stylized Seven Seventeen Credit Union) is an American credit union that provides financial services in Warren, Ohio. The credit union operate 13 branches and serve as the largest credit union in Northeast Ohio.
As of 2023[update], the Credit Union served more than 100,000 members with more than $1.6 billion in assets.[1] As of 2021, the credit union had 325 employees across Trumbull, Mahoning, Portage, Summit, and Stark counties.[2]
History
[edit]717 Credit Union was founded as a financial cooperative in 1957 to provide Packard Electric's hourly employees with money-borrowing services. The initiative grew from an informal cigar box filled with money to a full-fledged and regulated credit union.[3] The institution's namesake is the local 717 chapter of the International Union of Electrical Workers (IUE)., of which the credit union's 15 founders were members.[4]
With an aging membership, 717 announced it would begin offering trust services in 2004 to members with a minimum of $100,000 in assets.[5]
In November of 2020, the first Personal Teller Machine, or PTM, was brought online in their 717's network. [6]These machines offer additional functionality beyond a typical ATM by providing one-on-one services with a live teller via video link. When used after business hours, the credit union's PTMs operate as typical ATMs.
In October of 2023, chief executive Gary Soukenik stepped down after more than four decades. John Demmler took over on November 1st 2023 as president / CEO.[7] Demmler previously served as Chief Lending Officer and Senior Vice President of Corporate Strategy at A+ Federal Credit Union in Austin, Texas.[8]
In 2023, the credit union processed more than 8000 auto loans, 460 mortgage loans, and $67 million in small business lending.[9]
In 2024, Forbes named 717 the Number 1 credit union in Ohio, the institution's third consecutive year named among America's Best Credit Unions in Each State.[10][11]
In September of 2024, the credit union announced a partnership with Kent State University Athletics, becoming their official banking partner.[12]
Mergers
[edit]In the spring of 2001, Gougler Credit Union was acquired by Seven Seventeen Credit Union bringing its 400 remaining customers.[13]
On November 1st 2015, Kent Credit Union merged with 717, bringing more than 7,400 members to the combined organization. The merger made 717 credit union membership open to Summit County residents.[14][15]
On October 1st 2017, 717 finalized its merger with Credit Union One, bringing 2,600 members and 12.5 million in assets under their umbrella.[16]
On December 1st 2023, Youngstown City Schools Credit Union merged with 717, bringing more than 1,000 members. YCSCU cited increasing costs and complexity with technology and regulatory compliance in the digital age as reasons that made continued independent operation unsustainable.[17]
References
[edit]- ^ Staff (December 2, 2023). "Youngstown City School Credit Union, 717 merge". Tribune Chronicle. Retrieved August 8, 2024.
- ^ Fox, Ashley (November 2021). "717 Credit Union Opens Downtown Warren Branch". The Business Journal. Retrieved August 5, 2024.
- ^ LaRue, Dennis (October 23, 2017). "First Members of Seven Seventeen Amazed by Growth". The Business Journal. Retrieved August 5, 2024.
- ^ Lanham, Eric (January 22, 2008). "Seven Seventeen Sees Growth in Assets, Deposits". The Business Journal. Retrieved August 8, 2024.
- ^ Samaad, Michelle (July 6, 2004). "Aging Baby Boomers Motivate Seven Seventeen Credit Union to Enter Trust Services Realm". Credit Union Times. Retrieved July 5, 2024.
- ^ Lydic, Jeremy (November 14, 2020). "'Express' PTM in Weathersfield Is First of Many for 717". The Business Journal. Retrieved September 6, 2024.
- ^ Selak, Ron (September 27, 2023). "717 Credit Union gets new chief executive". The Vindicator. Retrieved August 5, 2024.
- ^ Chilingerian, Natasha (September 26, 2023). "John Demmler Named CEO of 7 17 Credit Union". Credit Union Times. Retrieved August 5, 2024.
- ^ Runyan, Ed (April 27, 2024). "Financial institutions see lots of change in '23". Tribune Chronicle. Retrieved September 6, 2024.
- ^ Staff (July 16, 2024). "Forbes Names 717 No. 1 Credit Union in Ohio". The Business Journal. Retrieved August 5, 2024.
- ^ Rabkin Peachman, Rachel (June 18, 2024). "AMERICA'S BEST CREDIT UNIONS IN EACH STATE". Forbes. Retrieved August 5, 2024.
- ^ Staff (September 6, 2024). "717 Credit Union Partners with Kent State Athletics". The Business Journal. Retrieved September 6, 2024.
- ^ Smith, Diane (April 7, 2001). "Gougler Credit Union merges". Record-Courier. Retrieved August 5, 2024.
- ^ Nobile, Jeremy (July 6, 2015). "Kent Credit Union plans merger with Seven Seventeen Credit Union". Crain's Cleveland Business. Retrieved August 5, 2024.
- ^ Coller, Patty (July 1, 2015). "Seven Seventeen to acquire Kent Credit Union". 27 WKBN CBS-Affiliate. Retrieved August 5, 2024.
- ^ "Seven Seventeen merges with Credit Union One". Tribune Chronicle. October 3, 2017. Retrieved August 5, 2024.
- ^ Mosca, Zach (December 1, 2023). "Youngstown City Schools Credit Union merges with 717 Credit Union". 21 WFMJ NBC-Affiliate.
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