PORTLAND, Ore. - This state's top credit union regulator, FloydLanter, chuckles when he describes "a true merger of equals" in theplanned combination this fall of PACE CU of Portland and ElectraCentral CU of Milwaukie. That's because the CEO of each are marriedin one of the rare such circumstances of a husband/wife in topmanagement at U.S. credit unions. "I have been telling people thatmy husband just took my job," laughed Cindy Barrick, who has beenCEO of the $145 million Electra for two and a half years and underthe merger will give up the CEO title to her husband, Ron Barrick,the president and CEO of the $330 million PACE. The couple has beenmarried seven years but met while both were in CU jobs. Ron is 48and his wife is 49. For his part, Ron admits to treading lightlyaround the house these days. "I keep an eye out for flying pots andpans," he joked. "Another CEO could be bitter or decide to justquit and take another job, but Cindy has demonstrated why she hasbrought such great value to the members of Electra." Ron says hiswife could just as easily been named CEO of the combinedinstitution "and I would be out looking for a job." The decision tohire Ron, who has been with PACE as CEO since 1987, "was a toughone for directors to make," confided Electra Chairman Bob Pearson."But in the end there is only one job. We were lucky to have twosuch great people who could guide the new credit union. They bothhandled it very professionally." Cindy says she has not made up hermind as to her long-term future but she will stay as long as she isneeded through the year as "Transition Team" leader for the merger.The merger is slated to be completed by October with a new name forthe 35,000-member institution yet to be decided. "I will make sureRon continues to do a stellar job," says Cindy. "Besides, I knowwhere he lives." Cindy, who before becoming Electra CEO waspresident/CEO at Willamette Falls FCU, Oregon City, says the twofirst met at industry seminars and at times "I'd call him at PACEand ask him what he was doing with some loan products and I'd askif I could have copies" of how they worked. Cindy says her careerpath has long been to become CEO of a CU starting as a teller atFibre Federal Community CU and later promoted to chief financialofficer. She later joined Electra as vice president of finance andthen promoted to CEO. "It's been a good career path for me gainingvaluable experience along the way," says Cindy who now will haveher hands full helping her husband with merger details. Ironically,Ron began his career at Electra in 1979 as a teller just out ofcollege. He worked in member services, collections and marketingand in 1981 became chief financial officer at Pacific Northwest FCUpromoted in 1983 at age 26 to be president/CEO. After joiningPACE-then known as City of Portland Employees' Credit Union - Ronwas considered instrumental in growing assets of the CU from $36million and changing its name to Portland Area Community Employeesin 1989. In press data on the merger, it was noted that PACE hasbeen rated by Callahan &: Associates as number one in its peergroup 17 times "in returning financial value to members." Lanter,the Oregon CU regulator who is Administrator of the Division ofOregon Division of Finance and Corporate Securities, said filingpaperwork for the merger is on schedule. "It sure is ironic to havethis kind of man-wife merger in our state," he declares adding heknew of no other like it currently in the U.S. Electra is slated tohold its annual meeting April 21 when members will formally act onthe merger package. But prior to that, the CU's Web site willcontain more details on the merger plans as well as the personalcomments of Ron and Cindy on being married and CEOs. Ron, saysCindy, "is my merger partner." And on that score one might notethere's always plenty to be said when it comes to a [email protected]