Two Washington State credit unions, the $287 million Yakima Valley and the $185 million Catholic CU, will be named Solarity Credit Union after their merger is completed on Oct. 1.
Mina Worthington, president/CEO of the consolidated CU in Yakima, said the name represents “energy – the liveliness of our people and the vigor that we have put into the communities we serve.”
The merger, finalized last month, is unusual since it combines one of the largest “mergers of equals” in recent years of CUs located within the same community.
In a statement the CUs noted the two, while competitors, have cooperated for years “and worked together to serve our community offering financial services that have helped members build lives.”
The Solarity name and logo will be introduced over the next few months, Worthington said.
Keying the marketing pitch, Solarity “will illuminate a path for our members to thrive,” she said.
The merger, formally announced in January, had been in the discussion stage for years, the credit unions said.
Under the management restructure, Paul Regimbal, the president/CEO of Catholic, becomes senior vice president of corporate integration before retiring in June 2012.