Northwest Community CU in Springfield, Ore., has completed its previously announced acquisition of Fred Meyer Employees FCU in Portland, Ore.
The $901 million-asset Northwest has provided management support to Fred Meyer since May. Fred Meyer's two Portland branches began operating as Northwest branches in July.
"The focus is on improving member services and ensuring regulatory compliance," said John Iglesias, president and chief executive of Northwest Community, in a press release Tuesday. "Northwest Community is pleased to be uniquely positioned to bring our financial strengths to partner with and help other credit unions."
Northwest has 99,000 members and operates 19 branches throughout Oregon. Fred Meyer had approximately $40 million in assets and 6,700 members.
