Eastman Merging Holston Valley CU
Tennessee's largest credit union, the $2.2 billion Eastman of Kingsport, is planning to merge a smaller competitor next year, the $11 million Holston Valley CU.
Both CUs are considered financially strong and well capitalized.
In a statement, Eastman said the Holston Valley consolidation follows the sudden death in September of the CU's veteran CEO, Sam Tuell.
"The merger is a win-win development for members of both institutions," said Olan O. Jones, president and CEO of Eastman.
The merger is expected to be completed next spring.
The 1,970-member HVCU has two Kingsport branches and serves employees of the Huston Valley Hospital. Eastman with more than 118,000 members is the 45th largest CU in the U.S.