Spokane Valley-based Horizon Credit Union and Spokane-based United Health Services Credit Union, of Spokane, today announced they’ve agreed to merge, pending regulatory approval.

The boards of both credit unions voted unanimously Tuesday to pursue the merger.

If approved, the three Spokane-area branches of United Health Services Credit Union will switch to operate under the Horizon name, says Chuck Zeller, president and CEO of United Health Services Credit Union.

Horizon Credit Union has 18 branches in Washington, Idaho, and Montana, and is completing a previously announced merger with EdTech Federal Credit Union, a two-branch, Butte, Mont.-based credit union.

United Health Services Credit Union had about $99 million in assets as of Dec. 31. Following the merger, the combined operations will approach $800 million in assets and will employ nearly 250 people.

United Health Services Credit Union has 28 employees, all of whom will be retained following the merger, Zeller says.

He says he will stay on for a couple of months after the merger is complete and then retire.

“I had planned to retire at the start of 2016,” says Zeller, who has been with United Health Services Credit Union for 33 years and was appointed CEO in 2006.

Horizon Credit Union CEO Jeff Adams says the boards of the credit unions hope to complete the merger by the end of October. He says he anticipates all Horizon employees will be retained and all branches will remain open following the merger.

Zeller says the merger will provide United Health Services Credit Union members access to technology and services they’ve been asking for, including opening and managing accounts online, remote deposit and capture, 24-hour lending, and mobile apps.

“Over years we’ve talked about feeling the need to offer more to members as far as technology,” Zeller says. “We haven’t had the resources to do that in the past.”

United Health Services Credit Union, which has 8,600 members, was founded here in 1960.

Horizon Credit Union, which has 53,000 members, originally was founded in 1947 as Kaiser Aluminum Employees Federal Credit Union and took on its current name in 1980.