The $238 million Prevail Credit Union in Seattle, Wash., announced last week that the members voted to merge into the $781 million Harborstone Credit Union in Lakewood, Wash.
Consolidation will create billion dollar Seattle-area credit union.
Three Northwest states–Washington, Oregon and Montana–have become the nation’s epicenter of merging activity among credit unions, with supporters claiming the trend underscores a higher level of member service.
The $4 billion Alaska USA Federal Credit Union is making good on its West Coast expansion strategy this month with the merger of a small but failed Seattle CU.
The head of a Seattle credit union bypassed in the merger process to take over a failed but small competitor expressed disappointment today at the outcome but said he still supports the final result of protecting members.