Intermountain Credit Union members on Tuesday approved a merger of the company into America First Credit Union
Officials at Salt Lake-based Intermountain had said the credit union had suffered from dropping income and financial troubles brought on by the mortgage crunch.
America First will integrate the administrative staff, members and assets of Intermountain Credit Union into America First operations — work expected to be finished by year's end.
Intermountain has assets of about $40 million and a membership of approximately 7,200, while America First Credit Union has assets of $4.4 billion and a membership of 473,000.
The National Credit Union Administration had approved the merger. The Utah Department of Financial Institutions had done the same, pending a favorable vote by Intermountain members.
Intermountain Credit Union began operations in 1954 as Associated Credit Union. The credit union's members were owners, employees, suppliers and their employees, or associated companies and their employees involved in the food industry. In 1999, Utah Associations Credit Union and Associated Credit Union merged to form Intermountain Credit Union. In 2001, Pioneer Credit Union, formerly EIML Credit Union, merged into Intermountain Credit Union.
America First was founded in Ogden in 1939. It is Utah's largest credit union and has 80 branch offices.