Addison Avenue FCU of Palo Alto, Calif. and First Tech CU, of Beaverton, Ore., are planning a consolidation this summer creating a $5 billion institution using the First Tech name.

The proposed combination, still subject to regulatory and membership approval, has been in the works since last October and brings together two of the industry's high-tech leaders representing a clientele well-versed in the latest online, investment and social media vehicles. Once finalized, the combined credit union will be the 15th largest in the U.S.

The combination of two healthy and well-capitalized CUs also underscores a new chapter in interstate expansion and likely emergence of a West Coast force with branch penetration in nine states and a strong member presence in major metro markets including Portland and the Bay area.