PORTLAND, Ore. – Two merging credit unions here, PACE and Electra Central, have settled on Advantis as the merged credit union’s new name to become effective Oct. 1. “Both boards of directors believed it was important to give a merged credit union an identity that reflected our long histories and values,” said PACE Chief Executive Officer Ron Barrick. “We believe the name Advantis captures the many advantages our members enjoy being associated with the credit union.” The two CUs, with combined assets of $465 million and among the oldest institutions in Oregon, had announced the merger last winter. Electra of suburban Milwaukie was chartered in 1928, while PACE, in Portland, was founded in 1936. Advantis directors will be named in October with “a composite of the two existing boards – six members of PACE and five of Electra,” said a news release. The merger pact with Barrick as CEO of Advantis was formally approved last April with his wife, Cindy Barrick, leaving her CEO job at Electra but assisting her husband during the interim merger negotiations.

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