Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
St. Helens Wauna sign merger intent
ST. HELENS, Ore. (7/10/12)--Two Oregon credit unions--Wauna CU and St. Helens (Ore.) Community FCU--have announced plans to begin merger discussions.

The boards of directors for both credit unions have signed a nonbinding letter of intent "to explore the benefits associated with merging" the two entities, according to a statement released by the two credit unions.

"Officials from both organizations are committed to do what is right for their membership and the communities they serve," said Robert Blumberg, president/CEO of Wauna CU, based in Clatskanie, Ore., with $143 million in assets. "Key factors to these discussions include the impact that the economy and competition has for credit unions of our asset size, plus both credit unions share a common heritage and serve local communities."

St. Helens FCU has $166 million in assets, according to the Northwest Credit Union Association (Anthem July 9).

A merger would produce greater efficiencies and support needed technology advancements, Blumberg said.


RSS





print
News Now LiveWire
Maine credit unions put Food Mobile on the road to relieving hunger in rural areas http://t.co/R0xpt6BAZE
2 hours ago
.@TheNCUA's Matz: PALS should be exempt from Military Lending Act proposal #NewsNow http://t.co/Vy9uNhOIEr
3 hours ago
#NewsNow Iowa loan growth 3 times national bank rate http://t.co/fUvudPLg5d
5 hours ago
.@ICBA tallies its Home Depot data breach costs: $90M, 7.5M cards http://t.co/iJgRDC2AKZ
6 hours ago
.@icul's Jury elected treasurer of @WOCCU exec committee http://t.co/HEF1UChN8f
7 hours ago