The $50 million Oregon Territory FCU of Salem will merge with $439 million Rivermark Community Credit Union of Beaverton, Ore., the surviving CU announced today.

Rivermark officials stressed that both CUs are well-capitalized and in healthy condition but the merger phenomenon "will become more prevalent, as smaller credit unions grapple with rising costs, increased competition and member service demands."

Oregon Territory's president/CEO, James Eberle, said it sought out the merger with Rivermark to provide its 8,000 members "more branches, expanded hours and a wider range of financial products."

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