The Houston-area, $37 million Space City and the $20 million Independence Parkway FCU of La Porte, Texas, plan to merge this summer.
The proposed combination of the two healthy credit unions represents perhaps a special phase in mergers of small equals, declared Craig Rohden, president/CEO of Space City, the continuing institution.
Discussions have been under way between the two competitors for several months, said Rohden, noting only a preliminary agreement has been signed with regulators.
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