Wednesday, May 31, 2006

Mergers bring Denver credit union to the Springs

Westerra Credit Union became Colorado's third-largest credit union last week by completing a merger with Gateway Credit Union after 92 percent of Gateway's members approved the state's largest merger among credit unions.

Westerra now has $890 million in assets, 76,400 members and 10 branches, including one near The Citadel mall in Colorado Springs. The local branch has nearly $13 million in assets, which would make it one of the five largest credit unions in El Paso County if it operated as a separate institution.

Westerra was formed last year with the merger of DPS Credit Union and Safeway Rocky Mountain Credit Union. Westerra officials said the credit union will spend the next year combining Gateway's operations with its own operations.

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