DALLAS — During closed session today, the NCUA Board approved proposed merger plans for Southwest Corporate FCU and Northwest Corporate FCU.
"Southwest Corporate is eager to move forward and serve member credit unions in the Northwest with a growing array of valuable products and services," Southwest President/CEO John Cassidy said.
Kathy Garner, president/CEO of Northwest Corporate, said the membership vote will be announced on October 11. "Over the past few months, we've been holding town hall meetings and visiting with our member credit unions to explain the numerous benefits provided by merging with Southwest Corporate," she explained.
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Integration planning has been underway since the merger plan was announced earlier this year, which, pending approval from Northwest Corporate's members, should have an effective date of the end of November.
Following the merger, Southwest Corporate's coast-to-coast membership base would grow to 1,500 credit unions.
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