Press
Oregon Community Credit Union and Bi-Mart Federal Credit Union plan to merge
EUGENE, OR (June 3, 2014) — Oregon Community Credit Union and Bi-Mart Federal Credit Union (Bi-Mart Credit Union), both based in Eugene, OR, have announced plans to merge effective July 1, 2014, with operational integration expected to be complete in September 2014. The merger has been approved by the National Credit Union Administration and the Oregon Department of Consumer and Business Services, Division of Finance and Corporate Securities. Bi-Mart Credit Union members approved the merger on May 19, 2014.
The $6.9 million Bi-Mart Credit Union will merge into Oregon Community Credit Union, which operates nine branches in Oregon and reported total assets of $1.2 billion in 2013. Bi-Mart Credit Union was formed in 1969 by employees of Bi-Mart Corporation to serve Bi-Mart Employees and their families. It serves 2300 members throughout the northwest. The current Bi-Mart Credit Union branch will remain open until operational integration is complete, and all Bi-Mart Credit Union employees will be offered employment with Oregon Community.
Mandy Jones, CEO of Oregon Community Credit Union, will lead the combined organization. Bi-Mart Credit Union will be operated as Bi-Mart CU, a division of Oregon Community Credit Union. Jones is a veteran of the credit union industry with more than three decades of experience, and has been CEO of Oregon Community Credit Union since 2006. “This partnership will offer Bi-Mart Credit Union members access to an expanded variety of product and service offerings, and is an opportunity for us to partner with an organization with like values,” Jones said.
Chad Olney, CEO of Bi-Mart Credit Union said, “We explored many options and a partnership with Oregon Community Credit Union was the best strategic decision for us, and also a great opportunity for our members. We realized this would bring our members expanded products and services and the added convenience of more branches, remote services and an extensive surcharge-free ATM network.”
Oregon Community Credit Union, founded in 1956, is a full-service financial institution providing checking, savings, certificates and money market accounts as well as mortgages, auto and home equity loans, and a full range of investment services. Oregon Community Credit Union operates 9 branches in Eugene, Springfield and Salem, OR.