The planned interstate foray next month by Utah's Mountain America Federal Credit Union into neighboring Idaho is raising some eyebrows among a group of CUs in the southeast portion of the state.
"We've heard about their plans for several years but why would they want to come into an area already overbanked with many credit unions and community banks?" asked Robert Taylor, president/CEO of the $158 million Idaho State University CU of Pocatello.
Taylor stressed he has nothing against competition but the growth market for a new entry like the $3 billion Mountain America could prove slim given "we have a well-entrenched and loyal member base," particularly among the college crowd, said Taylor.
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