SOFCU Community Credit Union and Oregon First Community Credit Union today announced their intent to merge in early 2011 pending regulatory approval and a vote of SOFCU's membership. The credit unions will operate as affiliates of First Community Credit Union under their state charter.
"This is a strategic alliance of two financially healthy credit unions joining together to create an even stronger one aligned in common purpose, vision and desired objectives," the CUs said in a release.
The merger of the $285 million SOFCU, based in Grants Pass, Ore., and the $410 million Oregon First based in Coquille, Ore., will result in a combined membership of more than 70,000.
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