Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
Wash. CUs plan merger assets would be 1B
SEATTLE and LAKEWOOD, Wash. (7/16/12)--Two Seattle-area credit unions--Harborstone CU and Prevail CU--have announced a proposed merger that would create a $1 billion-plus institution, if approved.

A merger agreement has been signed by the boards of both credit unions, according to a message on the website of $784 million Harborstone CU, Lakewood Wash.

Members of the $235 million asset Prevail CU will be asked to vote on the merger this coming fall, according to the message.

A message on Prevail CU's website said both credit unions are in strong financial shape, but increasing competition has changed the financial marketplace, creating ever-bigger banks and new competition, such as retailers that offer financial products.

"As the economic landscape changes with advances in technology and consumer demand for access, it is clear, it would likely take Prevail CU many years to achieve the size and scale to thoroughly compete for greater market share in our tech-savvy region of the country," the message said.

Harborstone FCU cited access to more locations for members, strength and growth as reasons for the merger.


RSS





print
News Now LiveWire
.@LACULeague in @DailyComet: #creditunions' "old" benefits attractive to new generation http://t.co/AzOv3nB7IB
9 hours ago
At @FTC request, court halts operations of an alleged debt-relief scammer calling itself “FTC Credit Solutions.” http://t.co/qMsDBmKExH
14 hours ago
.@daytondailynews : The secret is out about #creditunions http://t.co/Aqu3pFTROV @DayAirCU @CODECreditUnion
14 hours ago
.@CUNA's @Nussle on @SenatorReid :(2of2)On behalf of more than 102M #CU members,I thank him 4 his leadership over the yrs/wish him the best.
16 hours ago
.@CUNA CEO Nussle on Sen. Reid’s decision not 2 seek re-election (1of2): Sen. Reid has a long history of #CU support throughout his career.
16 hours ago