FOM & Merger Update
An update on FOM, mergers and name changes:
In Baton Rouge, La., after 50 years of serving the educational community, Baton Rouge Teachers FCU has expanded its field of membership to serve all nine parishes of greater Baton Rouge. With the expansion has also come a new name, Neighbors FCU. The credit union, using the slogan "Now serving more of your neighbors," will promote the new name using TV, radio, outdoor, and print ads.
In Springfield, Ore., the $425-million Northwest Community Credit Union (NWCU) has entered into discussions regarding a potential merger with the $93-million Point West Credit Union. PWCU has one branch in the Portland area; the community-chartered NWCU has 12 branches. Point West Credit Union, is the former Multco Credit Union and was founded in 1932 to serve Multnomah County employees.
In Green Bay, Wis., 1st Security CU said it has agreed to a merger with Fox Communities CU, in nearby Appleton, to create the state's fifth largest credit union with $440-million in assets. The combined entity will have a total of 14 offices, with presences in Green Bay, Ashwaubenon, Howard, De Pere and Appleton. The combination is expected to take place in August
In Fort Smith, Ark., the former Sparks FCU is now Rivertown Federal. The Arkansas River flows through the city. The CU said that it, too, is expanding its FOM to the surrounding area.
In Philadelphia, Philadelphia-South Jersey/U.N.I.T.E FCU has merged into American Heritage FCU. PSJ/U.N.I.T.E had just 320 members and $930,000 in total assets. American Heritage has $410 million in assets and 14 branches.
And in Dallas, NCUA has liquidated Oak Cliff Community FCU and authorized the purchase and assumption of its assets and shares by nearby Your FCU. The 1,670 members of OCCFCU can now access accounts at the $147-million Your Federal, which has more than 16,600 members.