Reader comments on HTM Credit Union


To the editor:

Remember HTM is the last local to Troy financial institution and once it’s gone the chances of getting another are just about slim and none.

I have been a member of HTM Credit Union for many years. On the weekend of 8/6/22 I couldn’t believe the letter I received from the Board of Directors (BOD) announcing it had approved a resolution to merge with a large out of town credit union. Not only am I shocked and disappointed by the director’s announcement, but I am disappointment in the BOD for not discussing this with the owners/depositors who they have a fiduciary responsibility too.

A neighbor of mine, also a member, who is familiar with the financial industry, is of the opinion, that given the low risk nature and financial condition of HTM’s balance sheet, other institutions, not as large and more local, would have an interest in merging or even buying HTM. After all if I wanted to be part of a big credit union I could go out to Wright Patt.

Over the years, HTM has accumulated around $5 million in retained earnings or equity. This is just excess income mostly from investing funds of our depositor/owner’s, the majority of who live in the Troy/Miami County area. These funds belong to them, the depositor/owners of HTM! So it is for this reason that this money should stay directly in, or close to, Miami County. This could be accomplished either through a local merger or distribution to the owner/depositors through a special dividend or through the sale of HTM to another financial institution.

In the near future you should receive a notice of a special meeting of the depositor/owners of HTM. I would think this will come through the mail but you should also watch for the notice on you statement or posted in the office lobby. This meeting will give the Member Board the opportunity to discuss their proposed merger and I would think we will be able to ask questions. It would also be nice to know what other merger partners they considered and their inability to hire a new manager. Most importantly it will give the depositors/owners the opportunity to vote on any proposals by the board of directors.

David Fuller


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