SEATTLE – Prevail CU, a $230 million product of eight earlier mergers, on Wednesday said it has agreed to acquire Transportation Northwest CU.
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Transportation Northwest, with $31 million in assets, had a loss of $214,000 for 2008 and a loss of $1.1 million for 2009 and net worth just over 6%.
Prevail CU reported a loss of $943,000 for 2009 because of a $1.6 million charge for the corporate credit union bailout.
Both Seattle-based credit unions have statewide fields of membership.
