Horizon Credit Union to Merge with Montana-Based CU
November 30, 2021
Horizon Credit Union, based in Spokane-Valley, Washington, recently announced plans to merge with Embark Credit Union, headquartered in Great Falls, Montana.
As the fiercely competitive landscape in financial services continues to change markets in Montana and across the Northwest, both credit unions said they hope to create greater value for their combined members, employees, and communities.
Pending regulatory and member approval, the expanded organization will have combined assets of more than $1.8 billion with 31 branch locations and 114,000-plus members across Washington, Oregon, Idaho, and Montana. The process is expected to be complete in 2022.
“We are excited to partner with such a well-established credit union in the local Great Falls community,” said Jeff Adams, President and CEO of Horizon. “With Deb Evans as the regional leader, we look forward to collaborating to create additional value for the current membership and providing more options for consumers in the area. Our mission to improve the financial and personal well-being for more people in more places positively complements the mission and values of Embark Credit Union.”
Evans, who currently serves as Embark’s President and CEO, will continue to lead the current market in the new organization. Jeff Adams will serve as President and CEO of the combined organization.
Both credit unions said no employees at Embark or Horizon will lose their jobs as a result of the merger, and all 31 branch locations will remain open to serve members as they work to fully integrate their systems next year.
Embark Board Chair Jason Kunz explained that merging with Horizon is a natural move as its mission and values directly align with Embark’s culture.
“Horizon has shown strong community ties in all their markets, including Missoula and Butte. It is these values, as well as their commitment to continue to support the Great Falls community on a local level, that not only meshed with Embark’s existing level of services but also shined in enhancing the opportunities for technology improvement and growth. Our most important mission is providing modern financial solutions while remaining close to our members.”
Evans noted that years ago when the board of directors chose the name “Embark,” it was intended to signal a financial journey, not an event. “Joining with Horizon Credit Union continues that financial journey,” she said.
This is the second merger for Horizon in the past two years. Just last November, the credit union completed its merger with Boise-based Icon Credit Union, expanding its footprint in Idaho.
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Posted in Around the NW.