In a $300 million consolidation, two Houston credit unions, First Service and Right Choice are planning a merger to be completed by year end.

Under the proposal, subject to approval of regulators and First Service members, the combined CU would have 14 branches and 51,000 members in metro Houston.

The merger plan, which has been in the works since February, would combine two healthy CUs, each with net worth ratios in the 7.8% to 8% range, said David Bleazard, president/CEO of the $120 million Right Choice.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.