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Two Oregon CUs exploring merger
EUGENE and BEND, Ore. (10/5/10)--Northwest Community CU, Eugene, Ore., and Mid Oregon FCU, Bend, Ore., have signed a letter of intent to explore a merger. Both boards of directors have approved the letter. The potential merger must undergo a due diligence review process, and be approved by regulators and by Mid Oregon FCU members, who will vote on joining the Northwest Community charter. “The goal of both organizations is to offer a combined credit union that is capable of offering more convenience, more locations and more technology services for banking throughout Oregon,” said Barb Blackmore, chair, Northwest Community CU. Northwest Community CU has $650 million in assets. Mid Oregon FCU has $138 million in assets. Both credit unions emphasized they are financially sound.


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