Prevail Credit Union members voted overwhelmingly (89 percent) in favor of merging with Harborstone Credit Union in October, according to a news release sent by the credit union.
The merger combines 69,000 members, 17 locations and assets of nearly $1 billion.
“The merger really benefits members, allowing us to offer more products, services and branch locations,” Phil Jones, CEO of Harborstone Credit Union, said in the news release.
Jones will lead the new organization that will operate as Harborstone Credit Union. All Prevail branches (including the Woodinville branch at 17601 140th Ave. NE) will stay open and become Harborstone branches once the transition is complete, officials told Patch in an email.
Additionally, all employees from Prevail Credit Union will retain jobs under the merger agreement.
The merger is expected to close by January 1, 2013 with full IT and system integration, new signage, etc., scheduled for mid-2013.