Sears Spokane credit union will merge with PrimeSource Credit Union

Sears Spokane Employees Federal Credit Union is merging with another local credit union.

Beginning Nov. 19, the credit union will become part of PrimeSource Credit Union.

The merger discussions began when Sears Spokane credit union began looking for a new space, said Jen Clark, a spokeswoman for PrimeSource Credit Union.

The Sears Spokane credit union branch is in the North Town Mall store. Sears filed for Chapter 11 bankruptcy Oct. 15, with a plan to close about 142 of its 700 stores by the end of the year.

Although local Sears stores aren’t on the list of outlets slated for closure, the Sears Spokane credit union wants to secure a space for the future, Clark said. The talks led to the merger option.

PrimeSource Credit Union began in Spokane in 1935 as Telco Credit Union, serving telephone company employees.

The credit union has branch locations in downtown Spokane, North Spokane and Spokane Valley.