[Federal Register Volume 60, Number 15 (Tuesday, January 24, 1995)]
[Notices]
[Pages 4640-4641]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-1582]



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NATIONAL CREDIT UNION ADMINISTRATION


Pacific Technology Federal Credit Union; Public Hearing

AGENCY: National Credit Union Administration (NCUA).

ACTION: Notice of public hearing.

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SUMMARY: The NCUA Board is holding a public hearing to seek testimony 
on the proposed merger of Patelco Credit Union of San Francisco into 
First Technology Federal Credit Union of Beaverton, Oregon.

FOR FURTHER INFORMATION CONTACT:
Becky Baker, Secretary of the Board, National Credit Union 
Administration, 1775 Duke Street, Alexandria, Virginia 22314-3428, 
(703) 518-6304. Submit written statements or requests to present oral 
testimony either by mail at this address or by FAX at (703) 518-6319.

SUPPLEMENTARY INFORMATION: An application has been filed with the NCUA 
Board by Patelco Credit Union, a federally-insured credit union 
chartered by the state of California with assets of $953 million, to 
merge into First Technology Federal Credit Union, a federally chartered 
credit union with assets of $258 million. The resultant continuing 
credit union will be a federally chartered credit union named Pacific 
Technology Federal Credit Union with its main office in Bellevue, 
Washington, two branch offices in Washington, five in Oregon and 34 in 
California.
    The Board must review the merger in accordance with the standards 
set forth in Section 205(c) of the Federal Credit Union Act. 12 U.S.C. 
1785(c). In addition, section 120(a) of the Federal Credit Union Act 
charges the Board with the responsibility to prescribe rules and 
regulations affecting mergers. 12 U.S.C. 1766(a). Further, the Board 
has asked the applicants to address questions related to policy issues 
raised by mergers of large healthy credit unions.
    In order to review the standards and issues as they apply to the 
proposed merger, the Board has decided to request public comment and 
testimony. While this hearing is of immediate importance to this 
particular merger, it has also been suggested that a decision on this 
matter has wide-spread implications and is, in fact, an issue of 
national scope and importance. Concerns have been raised with respect 
to the economic impact the merger would have on other credit unions, as 
well as the effect the merger would have on the continued ability of 
credit unions to operate as a cooperative movement. 
[[Page 4641]] Concerns have also been expressed related to the effects 
of consolidating large credit unions and the potential harm such an 
unlimited agglomeration of credit union assets could have on the 
National Credit Union Share Insurance Fund and the credit union system. 
The Board welcomes views and comments on any issues related to this 
proposed merger.

Public Hearing

    Date: February 14, 1995.
    Time: 9 a.m.
    Place: Filene Board Room, National Credit Union Administration, 
1775 Duke Street, Alexandria, VA 22314.
    Public participation: The hearing is open to the public. Members of 
the public who wish to make oral statements pertaining to the proposed 
merger should contact the Secretary of the Board at the address or fax 
telephone number listed above. Oral statements will be limited to five 
minutes. Requests to make oral statements must be received by February 
3, 1995, and should be accompanied by a brief statement of issues or 
subjects to be addressed. Depending on the number of requests, the 
Board reserves the right to select witnesses. Every effort will be made 
to receive a broad range of views. Written statements, whether in 
addition to or in lieu of oral statements, must be filed by submitting 
ten (10) copies to the Secretary of the Board and must be received by 
February 10, 1995.
    Copies of the proposed merging credit union's board resolutions and 
the proposed continuing credit union's field of membership are 
available for inspection by appointment at NCUA Central Office, Office 
of General Counsel Law Library, 1775 Duke Street, Alexandria, VA 22314-
3428 (703-518-6540) and NCUA, Region VI, 2300 Clayton Road, Suite 1350, 
Concord, CA 94520 (510-825-6125) or may be purchased from the NCUA FOIA 
Officer located at NCUA's Central Office at a cost of $10 per copy. 
Written statements submitted prior to the hearing will be available for 
inspection at NCUA Central Office, Office of General Counsel Law 
Library.

    Dated: January 17, 1995.
Becky Baker,
Secretary of the Board.
[FR Doc. 95-1582 Filed 1-23-95; 8:45 am]
BILLING CODE 7535-01-M