The $138 million BluCurrent Credit Union, largest in southwestMissouri, is merging the ailing $5.4 million Greater OzarksCommunity Credit Union effective Aug. 31.

Talks between the two Springfield credit unions have beenunderway since last May.

“The board of Greater Ozarks did approach us and now we lookforward to a successful combination of our two creditunions,” said Jenny Reynolds, vicepresident-marketing. at BluCurrent.

Greater Ozarks, with 2,000 members and formerly known as RailwayEmployees Credit Union serving the Burlington-Northern line, lost$100,000 last year and saw its net worth drop to 5.4% in June.

Reynolds said Greater Ozarks' lone branch in Springfield nearthe Kansas Expressway will remain open until a new nearbyBluCurrent facility opens in late September or October.

“In recent months, it has become increasingly difficult toprovide ever changing financial products and services to ourmembers and maintain a competitive edge within today's regulatoryenvironment,” explained Al Wagner, chairman of GreaterOzarks. “We are excited to make this transition.”

BluCurrent, which changed its name from Postal Federal CU, hastwo branches and 17,425 members serving a 10 county area ofsouthwest Missouri.