SEATTLE — Seattle Metropolitan Credit Union and Credit Union Northwest recently announced their impending plans to merge this summer.

Credit Union Northwest's board of directors felt the merger was in the best interests of the members for service and products as well as its employees. The combined credit union will hold $502 million in assets and 41,500 members with eight branches. Seattle Metropolitan Credit Union will be the surviving credit union; it currently has $480 million in assets.

"We are proud to say that CUNW has enjoyed a good deal of growth and success in our 70-year history," Credit Union Northwest CEO Cathy Rosenfelder said. "However we are still a relatively small credit union. This has made us a refreshingly personable financial institution, offering personalized service that our members have always appreciated, but it has become increasingly difficult to offer all the products and services our members need at a competitive price. The merger will provide our members with greatly enhanced services and the convenience of many additional branch locations and ATMs."