Three Northwest states–Washington, Oregon and Montana–have become the nation's epicenter of merging activity among credit unions, with supporters claiming the trend underscores a higher level of member service.
The phenomenon, backers claim, also highlights new credit union strategies to deal with both keener banking competition and a favorable regulatory climate.
By far, the biggest consolidation this month. and the one with the most profound impact, involves a planned $1 billion entity, which would be created with the combination of the $778 million Harborstone Credit Union of Tacoma, Wash., and the $241 million Prevail Credit Union of Seattle.
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