The $279 million PrimeWay FCU of Houston said this week it "is just waiting on the final paperwork" from the NCUA to complete a merger of the ailing $125 million TexasOne Community CU, also of Houston.
PrimeWay announced in March a preliminary agreement to consolidate TexasOne, which suffered back-to-back losses of $2.8 million in 2009 and $4.7 million the year before. It also lost $655,000 in the first quarter.
PrimeWay, which began discussions with TexasOne late last year, said the Houston CU, formerly Cameron CU and with 20,000 members, will retain its name and logo through the end of 2010.
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