ST. HELENS, Ore. – Officials with St. Helens Community FCU and nearby Wauna FCU said they plan to merge to create a credit union with about $300 million in assets.
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The merger of $162-million St. Helens Community and $145-million Wauna, based in Clatskanie, is subject to member and regulatory approval. A merger is being sought for reasons related to credit union competition and economies of scale, the two credit unions said in a non-binding letter of intent.
“Both credit unions share a common heritage,” said Robert Blumberg, president of Wauna FCU, who added the combination, “would produce greater efficiencies and support needed technology advancements.”
