Merger Would Create $5 Billion CU

The Portland Business Journal is reporting that First Tech CU (Beaverton, Ore.) has announced that it plans to merge with Addison Avenue FCU (Palo Alto, Calif.).

First Tech has assets of $2.2 billion with a 17-branch network across Oregon and Washington.

Addison Avenue has assets of $2.5 billion in assets with 21 branches in nine states and Puerto Rico.

If the merger is approved, the combined credit union would have almost $5 billion in assets and 320,000 members.

The combined credit union would be called First Tech Federal Credit Union