BEAVERTON, Ore.–Two Oregon credit unions said they have received regulatory approval to move forward with a merger that would create a $3.5-billion CU.
The $1.65-billion Rivermark Community Credit Union in Beaverton and the $1.92-billion Advantis Credit Union in Oregon City said that should members approve the combination they will look to complete the merger later this year or in 2025. The two CUs are located approximately 20 miles apart.
When the merger and transition are complete, members will have access to 19 branches in Oregon and Washington, according to the CUs.
The Financials
Rivermark Community reported $2.089 million in net income and 8.16% net worth as of June 30. Advantis Credit Union reported $1.076 million in net income and capital of 11.38% as of the same date.
A video related to the merger can be viewed here.