MANHATTAN BEACH, Calif. — Add $250 milion Toyota Federal Credit Union to the list of credit unions with plans to merge.
According to Toyota FCU Board Chairman Lloyd Mistele, the credit union has entered into an agreement to merge with $1.2 bilion Western Federal Credit Union.
The move is designed to help increase the value of membership to the combined organization, enhance the combined resources of both credit unions through scale benefits, and provide outstanding career opportunities for staffers as Western FCU expands into several more states.
Western is the result of industry's largest merger of equals between Western Federal Credit Union and TRW Systems Federal Credit Union in 2003.
It is anticipated that the merger will be complete by year-end 2007.
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