Old West FCU, Union Wallowa Baker FCU to Merge
August 24, 2016
August 24, 2016
From the Wallowa County Chieftan
Two long-time Eastern Oregon credit unions have announced their intent to pursue a merger.
Ken Olson, President and CEO of Old West, called the merger a win-win for both credit unions’ members and future members in Eastern Oregon.
“Both credit unions share a common heritage and great reputations,” Olson said, “and I was impressed by Union Wallowa Baker board’s commitment to their members and employees. I’m humbled that they would choose Old West as a potential merger partner.”
Carol Kroll, Board Chair of Union Wallowa Baker said seeking a credit union that would allow for continued local ownership, local accountability and one that would honor their credit union’s commitment to personal member service was paramount in its decision.
“Being able to offer the products and services that members want while maintaining a local, personalized presence is an expensive proposition for any credit union,” Kroll said. “And combining our assets with Old West will help ensure that a local, accountable cooperative is here to serve our members. I know that Mike Howton, Trudy Hendon and the rest of our staff are looking forward to continuing our personal service combined with even greater possibilities this merger will bring.”
Pending regulatory and member approval, the merger could be finalized as early as the end of the year.
The combined credit union would have assets of over $160 million and serve more than 12,000 members in eight Oregon counties.
Questions about this story? Contact Eric Horvath: 503.350.2222, firstname.lastname@example.org.
Posted in NWCUA.