EVERETT, Wash. -- Educational Community Credit Union and MountainCrest Credit Union, formerly Snohomish County PUD Credit Union, will merge effective May 31.
"We are very pleased and excited about our future." said ECCU President/CEO Mark Morrison. "Both credit unions are characterized by financial strength, progressive Board leadership, dynamic management and a dedicated staff. By joining forces we have guaranteed our potential for growth and innovative products and services in a highly competitive financial marketplace."
Under the MountianCrest CU banner, ECCU's Silver Lake branch will relocate to the former PUD Credit Union facility located on Broadway.
"The board voted unanimously in favor of the merger," said ECCU Board Chairman Norm Colon. "This was a bold move for us. One that may have taken the membership by surprise, but we had to ask ourselves, where do we want the credit union to be in five years? By merging, we have significantly accelerated the goals in our five year strategic plan. We have achieved advantages and economies of scale which will benefit the membership, the staff and the community sooner than we could have ever imagined."
After the merger the credit union will have a combined $90 million in assets and serve 15,000 members.