SPOKANE VALLEY, Wash. and MISSOULA, Mont. (7/17/12)--In a second vote, members of Montana First CU in Missoula, Mont., elected to merge with $437 million asset Horizon CU in Spokane Valley, Wash., after first voting down the proposal in January.
The website of $64 million asset Montana First confirmed the approval, with an announcement saying, "You made it happen. Thanks for your YES vote."
Balloting was conducted June 4 through June 18, after the merger was approved in May by the National Credit Union Administration.
Montana First CU members rejected the first merger proposal because members complained about a lack of information prior to the first vote, said Montana First CEO Chris Sisco (News Now June 12). Some also were concerned about moving control to an out-of-state entity.
Before reapproving a new plan this spring, the Montana First CU board hosted five public meetings to share information and answer questions.
The credit union also had launched a marketing campaign that included TV, billboard and newspaper messages urging members to approve the merger.