Bayer Heritage Federal Credit Union purchases property for $245,000

Bayer+Heritage+Federal+Credit+Union+purchases+property+for+%24245%2C000

By Staff Report

Bayer Heritage Federal Credit Union has purchased roughly two-and-a-half acres along Northpointe Drive across from the Oaks at Northpointe in the City of Zanesville.

According to real estate transfers listed by the Muskingum County Auditor’s Office, the property was recently purchased from Kearns Development Company Ltd. for $245,000.

No one from Bayer Heritage could comment if the purchase indicates the creation of new branch or relocation, such as what occurred last year with the move of the Ohio Educational Credit Union from Linden Avenue to Zane Street.

The current Zanesville branch of Bayer Heritage Federal Credit Union is located at 1917 Ridge Avenue near Owens Brockway Glass.

According to Bayer Heritage’s website, in 2013, Zane Trace Federal Credit Union merged with Bayer Heritage Federal Credit Union to become their newest branch.

Around the mid-2000s, publications from the National Credit Union Administration, the organization that insures deposits for credit unions much like the FDIC does for banks, began to encourage smaller, often single branch credit unions to merge to benefit their customers and more appropriately allocate risk.