Members of Golden Bay recently voted "overwhelmingly" to merge with Meriwest setting the stage for a combined financial institution with more than $1.3 billion in assets and 92,000 members. Golden Bay's three branches will be folded into Meriwest's 16 financial centers. The merger conversion is scheduled for Dec. 1.

"In approaching this merger, our highest priority was to provide our members with superior added value through strong financial leadership and an improved branch presence where they live and work," said Charles Munch, chairman of Golden Bay.

All of Golden Bay's employees will be offered a job with Meriwest, Kirsch said. Those who choose not to accept a position, will be given a package. H.R. Rick Leas, Golden Bay's president/CEO, retired in late 2006 and Bob Stansfield had served as interim CEO since then. Stansfield, who was "very helpful," during the merger process, has since taken another opportunity, Kirsch said.

"Aside from convenience, I think [Golden Bay members] will be able to experience robust online amenities. The benefit of retaining employees will mean members will still get to see familiar faces," Kirsch said. "We want to make sure they enjoy the same exceptional service. Golden Bay and Meriwest share that in common."

Golden Bay's three branches fit strategically in Meriwest's field of membership and footprint, Kirsch pointed out. In fact, the locations are so ideal that Meriwest plans to co-brand the branches by keeping Golden Bay's name visible.

"This new organization will combine the vision, people, branches, and the capability of two successful credit unions." said Christopher Owen, president/CEO of Meriwest. "The larger deposit and capital base will allow us to offer a wider range of products and services."

The Golden Bay merger marks Meriwest's fourth one over the past five years; its latest was two years ago. Kirsch said a "merger checklist" will help make the transition but acknowledges a lot of work ahead. A conversion project leader has been appointed and teams are already in place to ensure that the merger is transparent to members.

"Fortunately, we just came off a conversion two years ago so some things are still fresh," Kirsch said. "We will have a lot of communication both externally and internally. It really comes down to preparation and keeping an eye on details. I anticipate a smooth conversion–I'm keeping my fingers crossed."

Dick Alves, chairman of the board for Meriwest, is optimistic the merger is the right move for both parties.

"We are very excited by the opportunities that a merger of these two credit unions will bring," Alves said. "Golden Bay has a long and strong history of success paralleling our own. Our

ultimate goal is to truly bring the best of both institutions to our combined memberships and the communities we serve."

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