KEARNS, Utah Newspaper Employees CU, the one-time credit union for employees of the Salt Lake Tribune, has agreed to be merged into American United Family of CUs FCU, making it the latest newspaper employees’ credit union to halt the presses.
The $6-million Newspaper Employees CU has scheduled a special members’ meeting on Aug. 9 to vote on the merger.
The deal follows last month’s merger of Hutchinson (Kansas) News CU, which has served employees of the local newspaper and their families for 58 years, and recent mergers of credit unions for the San Francisco Chronicle, Boston Globe, New Orleans Times-Picayune, Arizona Republic, Charleston (W.Va.) Daily Mail, Madison (Wis.) State Capitol Times, the Twin-Falls, Idaho Times-News, and others.
Newspaper Employees CU has reported losses for five years in a row and seen its assets decline from $8.5 million in 2008.
