Oregon has now become center stage for credit union mergers with a proposed consolidation of two medium-size CUs in the southeast corner of the state, the $410 million Oregon First Community CU of Coquille and the $285 million SOFCU Community CU of Grants Pass.
The merger is slated to become effective in 2011 and will create the largest branch network in the state, with 34 facilities.
The Oregon First-SOFCU marriage announcement comes against a backdrop of the nation's biggest planned $4.6 billion merger of First Tech CU of Beaverton and Addison Avenue FCU of Palo Alto, Calif. That consolidation, first announced in March, is still awaiting NCUA approval, which originally was slated for late this summer.
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