How members benefit
Our proposed partnership with Addison Avenue is a true merger of equals that offers both short- and long-term benefits for members. In the short term, members will benefit from having access to additional branch and ATM locations and expanded products and services, such as, Addison Avenue’s remote deposit and online account opening capabilities.
In addition to the near term benefits of the proposed merger, the combined resources and greater geographic diversity of the two organizations enable us to take advantage of our smart scale to operate more efficiently, enabling us to weather changing economic conditions in the future.
Of course, we will continue to offer you great products and competitive rates and fees while supporting the local communities in which we live and work.
Please visit our Merger Background page for more information about why greater capitalization is important.
How will branches in other states help existing First Tech members?
First Tech currently has members in all 50 states and 17 countries. For those of you in the Northwest, Addison Avenue’s locations in Vancouver, WA and Corvallis, OR may be of interest. With several locations in California and elsewhere in the country, Addison Avenue branches may be convenient if you travel in the West. Please visit addisonavenue.com for a complete listing of their branch and ATM locations.
Couldn’t First Tech offer remote deposit and online account opening functionality on its own?
Yes, over time, we could invest in this new functionality. However, product development is expensive and time consuming. A merger with Addison Avenue not only gives us greater resources to invest in product development in the long term, but it allows us to take advantage of our scale to bring products to market quicker.
Will First Tech members still enjoy Shared Branch services?
Yes, if the merger is approved, we intend to continue to offer Shared Branch services. |
