Nationwide Bank receives final regulatory approvals
Office of Thrift Supervision, FDIC approve merger with credit union
FOR IMMEDIATE RELEASE
December 18, 2006
Media Contacts:
Carah Brody 614-677-0275
brodyc@nationwide.com
Columbus, Ohio — Nationwide Bank has received regulatory
approvals from the Office of Thrift Supervision and the Federal Insurance
Deposit Corporation authorizing its merger with the Nationwide Federal
Credit Union (NFCU).
Nationwide Bank and NFCU announced on Nov. 1 that the merger of the two organizations had been approved by an NFCU membership majority vote. Beginning Jan. 2, 2007, NFCU’s 44,000 members, which includes many Nationwide associates, retirees, agents and their families, will become customers of the new Nationwide Bank.
“Nationwide Bank plans to offer a unique and interactive customer experience. The credit union’s foundation of strong customer service, combined with Nationwide’s significant resources and access to a wide customer base, will create a strong financial institution with a compelling competitive advantage,” said Anne Arvia, Nationwide Bank president.
Nationwide Bank plans to continue to operate at existing NFCU locations. This includes banking centers located at Nationwide’s Columbus headquarters and Dublin office. The same services will continue to be available in existing locations in Des Moines, via the Internet and through a call center.
“By integrating our banking services with our existing businesses, Nationwide is in a better position to meet the future needs of its customers,” said Arvia. “We’re excited to have this merger finalized and to begin serving these valued customers.”
Later in 2007, the Bank will expand its marketing of products and
services to other groups of Nationwide customers and the broader market.
Banking services will be offered directly to customers primarily through
the Internet, a call center, ATMs and existing on-site banking
centers.
About Nationwide Bank
Nationwide Bank is a subsidiary of Nationwide Financial Services, Inc.
(NYSE: NFS). In April 2006, Nationwide Financial Services, Inc., with
welcome support from the Ohio Department of Commerce Division of
Financial Institutions, received approval from U.S. regulators to expand
the powers of its wholly-owned limited purpose thrift. Nationwide Bank
will provide a full range of consumer banking products and services
expanding the capabilities of Nationwide to serve its customers.
About Nationwide Financial®
Nationwide Financial Services, Inc. (NYSE: NFS), a publicly traded
company based in Columbus, Ohio, provides a variety of financial services
that help consumers invest and protect their long-term assets, and offers
retirement plans and services through both public- and private-sector
employers.1
It’s part of the Nationwide group of companies, which offers diversified insurance and financial services. The group is led by Nationwide Mutual Insurance Company, which is ranked No. 98 on the Fortune 100 based on 2005 revenue.2 For more information, visit www.nationwide.com.
1 Nationwide Investment Services Corporation, member NASD. In Mi
only, Nationwide Investment Svcs.
Corporation.
2 Fortune Magazine, April 2006
Nationwide, the Nationwide framemark and On Your Side are federally
registered service marks of Nationwide Mutual Insurance Company.
Nationwide Bank is a service mark of Nationwide Mutual Insurance
Company.
