Merger Creates Another CUGiant

February 14, 2005, 1:00 a.m. EST 1 Min Read

OLYMPIA, Wash. - (02/14/05) -- Twin County CU said Friday it hasagreed to combine with Harborstone CU to create the state's thirdlargest credit union with $1.1 billion in assets serving more than120,000 members. The new credit union giant will be the 95th creditunion with more than $1 billion in assets. The combined entity willhave as its home Lacey, where Twin County CU is currently buildinga new headquarters and Marshall Ellison, current president of TCCU,will be president/COO. Harborstone's Rick Schmidtke will be CEO.Twin County CU was chartered in 1938 to serve teachers in ThurstonCounty; while Harborstone CU was started in 1955 to serve McChordAir Force Base in Lakewood. The new credit union will trail onlyBoeing Employees CU and Washington State Employees CU as thestate's largest.

Processing Content

For reprint and licensing requests for this article, click here.

MORE FROM AMERICAN BANKER

Politics and policy

Housing bill passes House with community bank riders

A housing bill that already passed the Senate cleared the House Monday evening, but included bipartisan community banking provisions that have already raised objections in the upper chamber.

By Claire Williams

11h ago
Banking

15 most recent bank failures

Fifteen banks have failed since November 2019, with the most recent one occurring on Jan. 30.

By Editorial Staff

February 9
Regulation and compliance

CFPB blocks GAO investigators in layoff report

The Government Accountability Office was tasked with investigating the Consumer Financial Protection Bureau's stop-work order, but CFPB officials refused to meet with or provide information to Congress' investigative arm.

By Kate Berry

February 9
Federal Reserve

Fed's Waller: 'Everyone is yelling at me' on skinny accounts

Federal Reserve Gov. Christopher Waller said comments from banks and fintech firms reveal sharply different priorities in the creation of the central bank's proposed "skinny" master accounts.

By Maria Volkova

February 9
Fraud

Georgia woman sentenced for $1.5 million bank fraud scheme

Check fraud has risen 385% since the pandemic, with criminals using stolen mail and digital tools to deceive major financial institutions.

By Carter Pape

February 9
Corporate governance

KeyCorp, Eastern get relief as activist investor backs down

The activist investor HoldCo Asset Management said Monday that it doesn't plan to pursue proxy battles this spring at either Key or Eastern. It had been agitating publicly over the banks' M&A strategies.

By Allissa Kline

February 9