SPOKANE VALLEY, Wash.—The $608-million Horizon Credit Union here and neighboring United Health Services CU have agreed to merge.
For Horizon, the continuing institution, it’s the second merger in less than a year.
In a published report, United CEO Chuck Zeller explained the agreement was reached to provide its members with the online and mobile technologies they were asking for and that the $100-million CU lacked the resources to offer.
The deal comes on the heels of Horizon finalizing a merger with the $70-millon EDTECH FCU, based in Butte, Mont.
“We are finalizing the conversion of EDTECH over to our credit union, and we expect that merger to be completed shortly, in February,” United CEO Jeff Adams told CUToday.info. “The United Health merger won’t really ramp up and go forward for another few months and should be completed by the fourth quarter of 2015.”
Adams said merger has been part of the CU’s expansion plans for the last ten years, saying the credit union has completed five mergers in that timeframe.
“These two mergers are a little closer together than normal, for us,” noted Adams. But sometimes you can’t control the timelines.”