In an unforeseen management shift, Benson Porter, president/CEO of the $5 billion First Tech Federal Credit Union of Palo Alto, Calif., will be taking over the $9.7 billion BECU of Tukwila, Wash., next April, succeeding retiring CEO Gary Oakland.
Benson Porter said the chance to return to his native Seattle was a major factor in his decision to leave First Tech.
The $4.9 billion First Tech FCU, the product of a California-Oregon mega-merger this year, experienced a few negative hits during its Memorial Day computer conversion.
West Monroe Partners, Open Solutions say First Tech merger a success from their vantage points.
Members complain on Facebook, to local media, about inability to access accounts after integration of systems.
The head of the new $4.7 billion First Tech Federal Credit Union, Benson Porter, cautioned Thursday against credit unions elsewhere using the California/Oregon mega-merger as an exact template or business model.
The nation's largest merger a $4.7 billion combination of Addison Avenue Federal Credit Union of Palo Alto Calif. and First Tech CU of Beaverton, Ore. has won final approval of First Tech members, it was announced Friday.
Ending a processing period that lasted eight months, the NCUA has approved the nation's biggest interstate merger, the $4.6 billion consolidation of First Tech Credit Union, Beaverton, Ore., and Addison Avenue FCU of Palo Alto, Calif.
The $4.6 billion merger deal of First Tech Credit Union of Beaverton, Ore., and Addison Avenue FCU of Palo Alto, Calif., has now won approval of the Oregon regulator with a First Tech member vote set for November.
The nation's biggest inter-state merger has cleared a major hurdle. The NCUA has now given approval to the $4.6 billion consolidation of First Tech Credit Union of Beaverton, Ore., and Addison Avenue FCU of Palo Alto, Calif.