Caisse populaire offering more services after the merger
- Coshocton Federal Credit Union merged with CES Credit Union of Mount Vernon last July. The office moved in November to South Second Street.
- The credit union offers a variety of services and account types, such as the Coopers Kids Club to encourage financial literacy among young people.
- Moving to a larger location with drive-thru may happen in the future. An ATM is also on the way.
- CES participates in a local event, such as the Real Money teen financial program, Real World.
COSHOCTON – The former Coshocton Federal Credit Union has merged with another company and moved to a new location, with a focus on providing more customer service and expanding its customer base.
CES Credit Union began in 1952 in Mount Vernon as Cooper-Bessemer Employees’ Credit Union. Cooper-Bessemer became Cooper Energy Services in the mid-1970s, and the credit union became CES. There are branches in Mount Vernon, Delaware, Utica and Loundonville. It serves approximately 17,000 customers with assets of over $200 million.
The merger with CFCU took place in July and the Coshocton office moved in November from the Coshocton Masonic Lodge on Main Street to 700 S. Second St. A ribbon cutting and open house will be held when the weather warms .
Marketing manager James McLaughlin said they wanted a more visible space with easier parking. It’s between Pizza Hut and T-Mobile.
“It’s hard for a small credit union to be competitive in compliance and regulation. They were looking for a merger partner and it worked well for CES to come in because we were looking to grow,” McLaughlin told About the deal. “We wanted to establish a presence in this area. We knew there were no other credit unions in the area.”
The local branch has about 700 members and is growing, according to Coshocton Service Center Manager Karen Wright. Wright is also the loan officer at the branch and there are three tellers.
“We’re building that membership base and even in the few months we’ve been here, the community has welcomed us in and actively wants to learn a little bit more about what a credit union does,” Wright said. “We are talking with (members) about the overall picture of their finances. We are looking at ways to help them in this process. We may not be able to help them for the day, but we are going to try to put them in place so we can help them down the road, set them up for future success.”
McLaughlin said a credit union operates like an energy cooperative, different from a standard bank but with many of the same services. A credit union is a not-for-profit organization owned by its members. Credit unions generally have lower fees and interest rates on loans and higher interest rates on savings accounts.
“There’s such a big difference between banks and credit unions that once we find out a credit union is here, we seem to do pretty well in towns the size of Coshocton,” said said McLaughlin.
The blow to credit unions is that they don’t offer as many services as banks, but CES is changing that. This includes offering cash rather than checks for funds issued, mobile apps and the ability to bank online and an ATM will soon be available at the Coshocton office.
Wright said that at some point they would like to move to a bigger location and have drive-thru, like their other branches.
CES will participate in the Real Money, Real World program through The Ohio State University Coshocton County Extension Office. The high school student literacy program has a day where community members come to watch a demonstration where teens have to make and follow a mock budget.
Wright said being more present in the community is a future goal.
“We want to be part of Coshocton County. We want to be part of the community,” Wright said.
CES Credit Union of Coshocton is open 8:30 a.m. to 5:30 p.m. Monday through Friday and 9 a.m. to 1 p.m. Saturday. For more information, visit cescu.com or call 740-623-0527.