Two of southern Washington's largest credit unions, the $279 million Yakima Valley and the $184 million Catholic, both competitors in the same community, are planning a June merger.

The CUs, healthy, well-capitalized and six blocks apart in Yakima, said the proposed pairing works in fending off recent market intrusions by both regional banks and other CUs.

Informal discussions between the two CUs have been ongoing for nearly a decade, but a decision to push a consolidation was triggered most recently by branch and indirect loan forays by a Wenatchee bank and Hapo Community CU of Richland into Yakima, a community of 70,000 near the Oregon line.

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.