Two Seattle area credit unions, the $564 million Watermark CU and the $544 million Sound CU of Tacoma, are planning a summer merger, creating the state's fourth largest CU.
The consolidation is the largest of its kind in years in Washington State and marks what its managers say is a merger of equals by two healthy CUs seeking to stay competitive in the Seattle market.
The proposed transaction, subject to member and regulatory approval, would create a footprint stretching across Puget Sound with 21 branches.
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