YAKIMA, Wash. – Yakima Valley CU and Catholic CU said yesterday regulators have approved the combination of the two credit unions to create a regional credit union with more than $470 million in assets and 50,000 members.
“Catholic and Yakima Valley have shared the market for a number of years,” said Paul Regimbal, president of $190 million Catholic CU. “We have worked together on bettering the lives of people in our communities and share many of the same members, which is why a merger presents a lot of opportunity for both organizations.”
The merger was cleared by Washington’s Department of Financial Institutions and NCUA. It must now be approved by members of Yakima Valley, a $270 million credit union.
