Park Side part of credit union merger

Whitefish-based Park Side Credit Union and Gateway Community Federal Credit Union of Missoula are completing a merger that takes effect July 1.

Member benefits will be enhanced by the merger, according to Jeremy Presta, president and chief executive officer of Park Side. He said combining the two credit unions will lower operating costs and provide better rates.

“The offices here in the Flathead Valley will still all be Park Side branches and eventually all of our branches will come under one name to ensure consistent branding among all our markets and branches,” Presta said.

“Members belonging to both organizations will be able to utilize all seven branches in Western Montana along with our incredible network of surcharge-free ATMs starting in November,” he added. “Until then, it will be business as usual for both credit unions.”

The merger allows for investments in updated technology such as remote deposit, full-service ATMs, instant-issue debit cards and a more robust mobile application, Presta said.

More information is available on each organization’s website.

A letter to members posted on Park Side’s website noted “this merger will not happen overnight.

“There is plenty of work to accomplish in a small amount of time, drawing attention to two dates: July 1 for regulatory approval and mid-November for operational integration ... Between now and November it will be business as usual for both credit unions,” the letter signed by both credit union presidents stated.

The letter also noted that Gateway Community President Jim Jacobson will retire in November.

Park Side has 12,606 members with assets of $107 million, according to creditunionaccess.com.

Park Side started in 1965 as Whitefish Great Northern Federal Credit Union to serve the employees of Great Northern Railway and their families. In 1975 the name changed to BN Park Federal Credit Union and over the next 20 years the credit union added select employer groups to its membership.

It became Park Side Federal Credit Union in 2002, and by 2007 Flathead Credit Union merged with Park Side.

Gateway Community opened in 1968 and has 6,685 members with assets of more than $59 million.