The $10.7 million HealthONE Federal Credit Union in Denver has merged into the$236 million Partner Colorado Credit Union in Arvada, Colo., the creditunions said.
|Though HealthONE FCU posted a net worth of 10.96 at the end oflast year, it also posted a net loss of $70,976 for 2012, accordingto NCUA financial performance reports. In 2011 and 2010,however, the credit union posted a net income of $53,369 and$31,837, respectively. In 2009, HealthONE recorded a net loss of$75,419 and a net income of $36,604 in 2008, according to NCUAfinancial performance reports.
|While HealthONE said in a prepared statement that it managed tostrong financial position over the years, the credit union lackedthe ability to expand services and operations to serve the othersix HealthONE hospitals in Colorado. It has offices in Rose Medicaland Presbyterian St. Luke hospitals.
|Kim Oliver, president/CEO of HealthONE FCU, will remain as vicepresident of marketing and business development for all nichemarkets at the 27,000-member Partner Colorado CU.
|Ken Olson, board chair of HealthONE FCU, will move to thePartner Colorado board of directors along with one HealthOne FCUadvisory board member.
|Serving 1,761 members, HealthONE was established in 1970 toprovide financial services to health care professionals and theirfamilies. Partner Colorado said all rergulatory approvals for themerger were secured.
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