Credit unions merge

SOFCU Community Credit Union has merged with Oregon First Community Credit Union and is now an affiliate of the Coquille-based financial institution

The merger has resulted in 30 branch locations and combined assets of $700 million. The combined membership of the new institution is 70,000.

Grants Pass-based SOFCU was created in 1953 as the Josephine County Teachers Credit Union and previously merged with other institutions three times.

Oregon First Community Credit Union is headquartered in Coquille and has been part of seven previous mergers since 1971, according to its website.

Both credit unions will operating with existing data systems, while SOFCU shares will automatically transfer those shares to First Community.

SOFCU operates in Grants Pass, Medford, Klamath Falls, Roseburg, North Bend, Bend, Rogue River, Creswell and Cave Junction. Oregon First Community Credit Union has 20 branches across the state.

Because both institutions have branches in North Bend, SOFCU indicated the two may be merged "at some future point."

— Greg Stiles

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