Pending regulatory approval, the combined credit union would have assets of over $160 million and serve more than 12,000 members in eight Oregon counties.
If approved by regulators, the merger would take effect on September 1.
Northland’s branch will become a branch of Gesa, and all Northland staff will join the Gesa Credit Union family.
Gesa will take over Central Washington Federal’s branch, which will be Gesa’s first in Yakima Valley.
The merger has been approved by the two banks’ boards, and will now be submitted to the regulator and the members.
Darigold Federal Credit Union and Sound Credit Union announced today that they will merge later this year, pending regulatory approval and a vote by Darigold’s members. If approved, the consolidation would be the 15th merger for Sound in the past couple of decades.
Saying it has become increasingly difficult to keep up with new regulations and fast-paced technological changes, Cowlitz Credit Union announced Thursday that it will merge its operations into Red Canoe Credit Union later this year.
Two membership votes affirming the decisions of the Boards of two Washington credit unions will increase by two the number of $1 billion-plus credit unions based in the state.
Harborstone and Prevail Credit Unions have agreed to merge, with a member vote expected in the fall. “Joining our organizations gives members even more stability and protection from future economic downturns.”
After careful consideration, the Oregon Credit Union Foundation and the Washington Credit Union Foundation Boards of Directors have signed a letter of intent to merge.