X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SALT LAKE CITY — Culminating five years of talks, the $2.4 billion Mountain America Federal Credit Union is merging with the 67-year-old Salt Lake CU, which retains a 26,500-member base of city employees and SEG groups.

The merger plan, due for approval at a membership meeting last week, would serve to bring new product and technological efficiencies to a CU that more recently has had to set aside reserves for mortgage and construction loan writedowns in reporting a $3.6 million loss for 2007, according to Orla Beth Peck, supervisor of credit unions at the Utah Department of Financial Institutions.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

 

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.