ST. HELENS, Ore. – Officials with St. Helens Community FCU and nearby Wauna FCU said they plan to merge to create a credit union with about $300 million in assets.

The merger of $162-million St. Helens Community and $145-million Wauna, based in Clatskanie, is subject to member and regulatory approval. A merger is being sought for reasons related to credit union competition and economies of scale, the two credit unions said in a non-binding letter of intent.

“Both credit unions share a common heritage,” said Robert Blumberg, president of Wauna FCU, who added the combination, “would produce greater efficiencies and support needed technology advancements.”

 

Subscribe Now

Authoritative analysis and perspective for every segment of the credit union industry

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.