The $41 million Cowlitz Credit Union in Longview, Wash., plans to merge into the $581 million Red Canoe Credit Union, also based in Longview, by September, according to a Cowlitz CU prepared statement.
"It's becoming increasingly difficult to keep up with new regulations and the fast-paced technological developments in our industry," said Larry Anderson, Cowlitz board chair. "The board unanimously agreed that turning back to an old friend made the best sense for our membership."
Like many small credit unions, revenues at Cowlitz had either been flat or declining.
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