Montana First CU wins approval in second vote on merger with Horizon Credit Union of Spokane Valley, Wash.
The postmortem on last month’s two failed merger attempts that were victims of member opposition hits on three ingredients: poor communications, a rushed timetable and lack of enough advance explanation to constituents and the public.
In this Print Preview from next week's edition, industry experts look behind the recent rejection of proposed mergers in Louisiana and Montana.
The chairman of the $63 million Montana First Credit Union, whose members three weeks ago shot down a merger bid from an out-of-state suitor, said Friday that his credit union plans to try again.
In a rare case of reversals, two proposed credit union mergers–one an interstate pact in the Northwest and the other involving Louisiana CUs–were called off last week as a result of member opposition.
In addition, culture differences among employee groups must be carefully considered to avoid missteps, according to a key participant and an industry consultant.
Montana First CU won't become part of Horizon CU of Spokane Valley, Wash., members decide.
Challenge possible at Thursday vote for merger between Spokane Valley and Missoula credit unions.