BEND, Ore.–Mid Oregon Credit Union has announced it has completed the acquisition of the assets and liabilities of High Desert Bank here.
As a result, all High Desert Bank accounts have been converted to Mid Oregon Credit Union and all funds transferred, and all the former customers are now credit union members.
The agreement has been in negotiations for several months and received regulatory approval at the end of May, according to the credit union.
High Desert Bank has been in operation in Bend since 2007, with one location and approximately $21 million in assets.
"The overlap in service area, as well as similar product and service offerings, made Mid Oregon the ideal option for purchasing the bank’s accounts," Mid Oregon Credit Union said in a released statement.
High Desert Bank had approximately 400 customers.
“Changing your financial institution is a very personal thing,” said Bill Anderson president/CEO of Mid Oregon, in a statement. “We understand that changes like this impact people, and our goal is to make the transition as seamless as possible for the High Desert customers who are moving their accounts. We value building relationships and the opportunity to make the Mid Oregon move a positive experience.”
The $285-million Mid Oregon has more than 30,000 members and seven branches.