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News Now

Washington
NCUA approves big Addison Ave. First Tech CU merger
ALEXANDRIA, Va. (10/15/10)--The National Credit Union Administration (NCUA) has approved the merger of Addison Avenue FCU, Palo Alto, Calif., and First Tech CU, Beaverton, Ore. The NCUA on Thursday told news Now that it officially approved the merger on Oct. 4. Both credit unions served members from high-tech companies such as Hewlett Packard, Microsoft, Agilent, Intel, and CH2M HILL. The newly merged credit union, which will operate as First Tech FCU with corporate offices in Palo Alto, Beaverton and Rocklin, Calif., will hold $4.6 billion in assets from 320,000 members. The credit union will have 38 branches total. Addison Avenue President/CEO Benson Porter earlier this year said that the partnership is a tremendous opportunity for the credit unions to create more value for their combined membership and sponsor companies.


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