The $997 million Numerica Credit Union of Spokane, Wash.. was scheduled to complete by the end of May a merger of the long-ailing $12 million School Employees FCU of Richland.
The consolidation had been sought by the 3,000-member SEFCU last year after "more than a year of a financial struggle" and the search for a suitable partner, said Dennis Cutter, president/CEO of Numerica.
Numerica has no plans to scout other CUs of School Employees size as merger candidates, "but we always stand ready for opportunities where there is a good match and there was one with School Employees." The merger had been approved by SEFCU members May 4.
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