Generations Credit Union of Olympia and Community 1st Credit Union of DuPont have merged, the two credit unions have announced.
The combined credit unions will operate as Community 1st Credit Union, according to a news release issued Friday. The merger took effect Dec. 1 after members of Generations approved it Nov. 15 at a special membership meeting.
Bill Paulen is the chief executive at Community 1st. He previously was CEO at Generations and led its financial turnaround in 2014-2017.
“Together with the additional resources available at Community 1st and its energized team, we see this merger as an excellent match,” Paulen said in a statement.
The combined operation has total assets of about $150 million, six branches in Puget Sound and serves more than 12,000 members.