SECU, First Tech Announce Merger Plans

SALEM, Ore. – Ballots were mailed out November 26 to members of State Employees Credit Union seeking approval to merge SECU with First Tech Credit Union of Beaverton, Ore. A special meeting was scheduled for Dec. 16. SECU, with 26,000 members, $137 million in assets and branches in Salem and downtown Portland, announced merger plans this week. It said the merger would allow it to expand services to members as well as offering more opportunities to staff. “The opportunity to partner with First Tech and gain access to their wide variety of products and services, as well as their branch network, will provide an even greater return to SECU members,” said Larry Queen, SECU president. First Tech, which serves some 85,000 members, operates five branches in Oregon and Washington. Oregon’s state regulator and the National Credit Union Administration have approved the merger pending the vote of SECU’s membership.