Numerica Credit Union acquired 63-year-old Monad Federal Credit Union in a merger, effective March 1.
Monad is a one-branch credit union at 1817 W. Sylvester St. in Pasco. It will become a Numerica branch.
The $14.8-million Monad and its approximate 2,500 members approved the merger with the $2 billion Numerica at a special Feb. 5 meeting.
Monad was organized and chartered in 1955 by a group of individuals employed by the Northern Pacific Railway, according to its website.
The merger between the credit unions was precipitated when Camelia Uhling, Monad’s president and CEO, announced her upcoming retirement.
The boards of directors of both credit unions, as well as both CEOs, supported the merger, viewing it as an opportunity to combine resources to take advantage of the key strengths of each credit union, including providing an even more attractive portfolio of products and services for members and professional advancement opportunities for current Monad employees.
Monad members will be able to the use the 20 branches provided by Numericas. This includes additional products, services and delivery channels offered by Numerica, which has more than 135,000 members.
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