Mergers, FOM and Name Changes
TULLAHOMA, Tenn.-The $955-million AEDC FCU is absorbing via merger Maury Progressive Credit Union of Columbia, Tenn. The $6.4-million MPCU served 1,555 members. Its facility is now a branch of AEDC FCU.
LA PORTE, Del.-Du Pont La Porte FCU has been OKd for a community charter. It will do so under its new name, Beacon FCU, which it introduced to members at its annual meeting March 4.
COLORADO SPRINGS, Colo.-The $1.7-billion Ent FCU has been approved to expand into Pueblo County, Colo., which is designated as an "underserved investment area." Ent FCU said the additional service area will add approximately 185,000 potential members, based on the 2000 U.S. Census. EFCU plans to open one or more service locations in the next 12 to 24 months.
VANCOUVER, Wash.-iQ Credit Union here and City Employees of Clark County FCU said they plan to merge. iQ CU will be the surviving name. Combined, the credit union will have $306 million in assets and 37,500 members. The credit unions said that some CECCFCU staff may move to positions at iQ's administrative office, but many will remain at its downtown branch location. If approved by CECCFCU members, the merger is set to occur April 1.
PORTLAND, Ind.-Portland Forge EFCU has changed its name to CrossRoads Financial FCU. The credit union said the name change reflects its expanded FOM to employees of 47 counties.
SPOKANE, Wash.-Telco CU took on the moniker of PrimeSource CU effective March 1. With the expansion of the credit union's field of membership from serving employees of Pacific Telephone Co. to include those who live, work and worship in the state of Washington, the credit union decided the Telco name no longer "fits" the majority of its membership. The CU that spent its first 70 years as Telco will kick off its month-long anniversary celebration with the name change.
SANTA ROSA, Calif.- The $1.1-billion Redwood Credit Union (RCU) has absorbed via merger the $2.6-million Marin General Hospital Employees Credit Union, Larkspur, Calif. The merger has been approved by regulators. Redwood Credit Union serves 112,000 members.