The members of Ogden, Utah-based Healthcare CU have approved a merger into Goldenwest Credit Union, which was first announced in October.
In a presentation to HCU's membership, President and CEO Scott Baumgartner explained that both credit unions are financially sound, have similar corporate values and fields of membership, so the merger is more about building upon strength and opportunity than out of necessity.
The meeting was reportedly well-attended, and all members present voted in favor of the merger.
"We were thrilled the membership was 100% supportive of the proposed merger," Baumgartner said in a release. "We're excited about the opportunities for Healthcare Credit Union members and employees going forward."
Having already been given the green light from federal and state regulators to move ahead with the merger, the two institutions will officially join forces on Jan. 1, 2017, though full integration of accounts, products and services is not expected to be completed until May. HCU's branches will be rebranded with a new logo to indicate that they are part of the Goldenwest CU network. Since Goldenwest does not currently serve Salt Lake County, all existing HCU branches are expected to remain open.
In a statement released by the two institutions, Goldenwest President and CEO Kerry Whalen congratulated everyone involved in the merger process.
"We extend a warm welcome to the Healthcare Credit Union members and employees who are now part of the Goldenwest famly," said Whalen.
