The head of the new $4.7 billion First Tech Federal Credit Union, Benson Porter, cautioned Thursday against credit unions elsewhere using the California/Oregon mega-merger as an exact template or business model.
"This merger of ours is really unique as a merger of equals and it's not always easy to put together a consolidation with two different cultures or business strategies but with us it has worked well," Porter said, commenting on the final membership vote taken last week on the Jan. 1 startup of the Oregon/California CU.
With offices in suburban Portland and in Palo Alto, Calif. and with 380,000 members in eight states, First Tech FCU is making plans for a January rollout of its new brand as the two CUs, First Tech and Addison Avenue FCU, are combined.
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