LA GRANDE — The merger between Union Wallowa Baker Federal Credit Union and Old West Federal Credit became official this week.

The members of U-W-B overwhelmingly voted to accept the merger between the two financial institutions, a press release said. According to documents executed by both credit unions’ boards, Old West will assume all assets and liabilities of U-W-B today. The two credit unions announced the proposal in August, which was contingent on a majority vote by U-W-B members in favor of the merger.

“I want to thank the members of Union Wallowa Baker Federal Credit Union for their overwhelming expression of support,” Old West President and CEO Ken Olson said in the release. “I know the Old West family is excited to bring more members into the fold.”

U-W-B Manager Mike Howton will continue as Old West Branch Manager in La Grande. In addition to the rest of the staff continuing to work at the La Grande location, the release said, new faces will be there to offer commercial and agriculture loans and accounts, as well.

In the release, Howton expressed his excitement for the expanded opportunities offered for members of the credit union.

“The ability to offer home loans, Ag and business loans and deposit accounts will be a tremendous opportunity for our members,” Howton said. “When Main Street can do business with a local financial institution, great things can happen in our communities.”

Olson cited a recent independent economic analysis by EcoNorthwest that showed not-for-profit, member-owned credit unions in Oregon drove a $2.2 billion impact to the state’s economy last year.

“Those are not Wall Street dollars,” Olson said. “That impact is created when you have locally owned, locally accountable cooperative financial institutions operating for the benefit of your local community.”

The combined institution will now have over 12,000 members in eight counties in Eastern Oregon, with assets of over $164 million. The actual integration of the merger will take place over the next several months, but members of U-W-B can continue to do business as usual as it takes place. Members can also expect further details to come by mail in the coming weeks.

Eastern Oregon Workforce Board offers training help

Money is available to manufacturing and health care companies in several Eastern Oregon counties to assist with retraining current employees.

Available in Umatilla, Morrow, Baker, Grant, Harney, Malheur, Union and Wallowa counties, the Eastern Oregon Workforce Board has dedicated $40,000 through the Incumbent Worker Training Program. This could include training in new or advanced skills that enable an employee to multi-task or be more productive.

At this time, the program is limited to businesses in the manufacturing or health care sectors. Priority for funding is given to applicants who demonstrate that funding could assist them in avoiding a layoff, downsizing or closure, or would provide retention opportunities by upgrading employee skills as a result of the training.

For more information, call Tara Bishop at 541-278-5688 (Umatilla/Morrow counties) or Eric LaBonte at 541-963-7942 (other counties listed). For more about the Eastern Oregon Workforce Board, visit www.eowb.org.