LONGVIEW, Wash. — Cowlitz Credit Union announced yesterday that it plans to merge with Red Canoe Credit Union in September.
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Cowlitz' Board Chairman Larry Anderson said the move was made, in part, because the one-office Cowlitz was struggling to keep up with changing banking technology.
Anderson said all 15 Cowlitz employees will keep their jobs.
The $42 million-asset Cowlitz started in 1957 as an offshoot of the Weyerhaeuser CU, which later changed its name to Red Canoe, which is also based in Longview.
The shared history was a big reason why Cowlitz sought to partner with Red Canoe, Anderson said. "We're more or less going back to our roots."
Cowlitz will have one seat on Red Canoe's board of directors.
