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Eugene, Ore.-Based Credit Union Buys Local Mortgage Business.
Byline: Ed Russo
Sep. 5--After 24 years, Jay and Janet Dent of Eugene were looking to retire from their mortgage business, Frontier Investment Co.
Eugene-based Selco Credit Union, meanwhile, was on the prowl to add financial services.
On Tuesday, the Dents sold their 43-employee firm to Selco, among the largest credit unions in Oregon. Selco members include school, city, county and federal employees in Lane and Deschutes counties.
The purchase is a bold diversification step for fast-growing Selco, which has 65,000 members.
The move enables Selco to increase its mortgage business and gives the credit union more investment ...
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