Two Pacific Northwest-based credit unions say they’ve won final approval for their planned merger.
TwinStar Credit Union, based in Lacey, will formally absorb Northwest Community Credit Union, headquartered in Eugene, as of June 12. The two institutions will fully integrate their banking systems — and decide on a shared name — by 2024.
The credit unions said the merger received regulatory approvals in February.
Members of Northwest Community Credit Union approved the merger in a vote that wrapped up this week.
Together, the credit unions have more than $4 billion in assets, according the National Credit Union Administration, and operate 36 branches in Oregon and Washington.
Combined, they employ more than 700.
TwinStar, founded in 1938, traces its beginnings to teachers in Olympia, Washington. Northwest Community Credit Union was founded in 1949 by employees of the timber company Weyerhaeuser.
