Cascade Central Credit Union to Merge with Consolidated Community Credit Union
The expansion will help better serve members across eight Oregon counties.
Cascade Central Credit Union, headquartered in Hood River, Oregon, has announced plans to merge with Consolidated Community Credit Union, based in Portland. Pending regulatory and member approval, the expanded organization will have combined assets of $330 million and serve Multnomah, Washington, Clackamas, Clark, Hood River, Klickitat, Columbia, and Yamhill counties.
As the competitive landscape in financial services continues to change markets across Oregon, the Directors and leadership teams of both credit unions sought to create greater value for their combined members, employees, and communities. Both Cascade and Consolidated have demonstrated continued financial strength and success as independent organizations.
“This collaboration gives us the best of both worlds. We have the opportunity to gain the competitive advantage and support of a larger organization while maintaining the personal service of a local credit union. We’ve built a great credit union. We owe it to our members to continue to build on this strong foundation to ensure that we remain a viable institution for generations to come.”
— Nancy Blanchette, Cascade President and CEO
The two credit unions have a history of working together. Consolidated has been assisting Cascade and its members with its residential and commercial real estate loans for the past five years. This experience, in addition to shared values that place a premium on integrity, make Consolidated an ideal partner.
“The Board was committed to finding a partner that valued Cascade’s history and wanted to build on the credit union’s success,” said Muriel Ishizaka, Cascade’s Board Chairman.
Larry Ellifritz, current President and CEO of Consolidated, will become the President and CEO of the combined organization. Two members of Cascade’s current Board of Directors will transition to the ongoing Board, and all the Cascade employees will be retained.
“We are excited to expand our partnership with Cascade and to broaden our services to these Mid-Columbia communities,” said Ellifritz. “Nancy and her team have built a great brand in Hood River and we are very honored to be working with them.”
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