Oregon Merger Remains On Schedule

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The $700-million Oregon Community Credit Union and the $1.6-billion Portland Teachers Credit Union said that they remain on pace to complete their merger. Once merged, the credit union will serve more than 234,000 members, employ nearly 500 people, and will have $184 million in reserves.

Once completed, PTCU in Portland will be the headquarters, while the current headquarters of OCCU in Eugene will house other offices. But the smaller credit union's name, Oregon Community, will be used for the combined operation.

PTCU President Cliff Dias will serve as the President/CEO of the merged credit union, while OCCU CEO Gordon Hoerauf will serve as EVP/chief operating officer of the combined operation.

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