Spokane Valley-based Numerica Credit Union will merge with Oregon’s SELCO Community Credit Union, creating an institution with $8 billion in assets, nearly 40 branches and more than 325,000 members across three states.
The credit unions announced the merger of equals on Oct. 28. While the merged institution will operate under SELCO’s Oregon charter and be headquartered in Springfield, Oregon, it will use the Numerica name and current Numerica president and CEO Carla Cicero will be its top executive, remaining based in Spokane Valley, according to a release.
The merger, which has been unanimously approved by SELCO and Numerica’s boards of directors, remains subject to regulatory approval and a vote by Numerica’s membership. There are no plans to consolidate branches given each institution’s existing unique service areas…