BECU Trust Company, a subsidiary of the $11.5 billion Boeing Employees Credit Union in Tukwila, Wash., has merged into the MEMBERS Trust Company in Tampa, Fla.
The merger was completed July 1, according to a joint statement released this week.
With more than $1 billion in assets, MEMBERS Trust Company is owned by credit unions nationally and CUNA Mutual and provides trust and investment services to credit unions and their members.
The announcement said BTC's professional staffers will continue to work from their Washington office to provide trust and investment services to existing and new clients through MTC as BECU Trust Services.
Scott Strand, BECU senior vice president of member operations, will become a member of MTC's board of directors.
“We are looking forward to the expanded trust services that this merger will bring for BECU members while enabling them to be served by the same trust professionals at BECU,” Benson Porter, president/CEO of BECU.
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Peter Strozniak
Credit Union Times reporter covering credit union operations, fraud, M&As, leagues, business continuity, and breaking news.
