MADISON, Wis. (3/22/13)--Continuing a trend of consolidation in the credit union industry, several credit union mergers and acquisitions have been announced or completed across the nation in March.
Northwest Community CU in Springfield, Ore., with $766 million in assets, announced the completion of its merger with Coos Educators CU in Coos Bay, Ore., with 14 million in assets.
Coos Educators' lone branch began operating March 16 as Northwest Community CU. For smaller struggling credit unions, a merger can fulfill commitments to loyal members and improve access to financial services, Northwest Community said in release.
"We chose to pursue a potential merger with Northwest community CU as a way to strengthen our organization during a challenging economy, and ensure continued service of excellence for our members," said former Coos Educators FCU Board Chair Chuck Inman. "We chose Northwest Community CU because of its long history of caring about the local communities they serve, and their successful track record as a stable organization."
Other recent mergers and acquisitions include: