TwinStar Credit Union and Northwest Community Credit Union recently announced a merger between the two has received regulatory approval, according to a news release.
The merger became official on June 12. The newly merged organization now serves more than 245,000 members with branches in 36 locations throughout Washington and Oregon. Combined assets of the organization now total over $4 billion, according to the release.
Northwest Community Credit Union will now be known as a division of TwinStar Credit Union while the organization works to determine a new name.
The merger allows members of both credit unions access to more banking locations and additional products and services, among other member benefits.
“We are excited that our members see the additional benefits of forming this partnership and bringing our two credit unions together for the benefit of members, employees, and communities,” Northwest Community Credit Union CEO John Iglesia said in the release.
Iglesia, along with TwinStar Credit Union CEO Jeff Kennedy, believe the merger is an example of the impact credit unions can have when they pursue a cooperative partnership.
“The boards and leadership teams of both credit unions have worked side by side over the past several months to ensure the original intent of this partnership remained, and that intent was to work collaboratively to make decisions for the future organization and stay focused on our passion for serving members,” Kennedy said in the release. “We know members have many choices when it comes to a financial institution, and we take that very seriously. We’ve been lucky to form this great partnership and are excited about the future. The end goal is to build a greater experience for employees and members, and then everyone wins.”
Kennedy is now the new organization’s CEO, while Iglesia is the president. For more information, visit https://www.twinstarcu.com/better-together or https://www.nwcu.com/merger-information.
