Northwest Community Credit Union Merger with TwinStar
Northwest Community Credit Union (NWCU) is now officially a division of TwinStar Credit Union as of June 12, 2023.
NWCU members provided the third and final approval of the merger between TwinStar and NWCU on May 15, 2023. Regulatory approval was received February 17th. Member voting occurred March 27–May 15th.
Several steps must follow before the expanded credit union can begin serving the combined membership in locations across Oregon and Washington. Not much will be changing for members in 2023, as we take these next steps:
- TwinStar and NWCU are now one entity. Beginning June 12, 2023, NWCU will include this tradename: “Northwest Community Credit Union, a division of TwinStar Credit Union" in their signage, greetings, documents, email and business cards. The change indicates that NWCU has adopted the Washington State charter for credit unions. Eventually, a new unified name will be adopted for the combined organization.
- We now continue work to integrate banking systems with NWCU, with a goal of having our systems fully integrated in 2025. This timeframe is generous to create the best merger experience for members and to ensure that employees are supported in this change as well.
- As system integration nears, members will receive a comprehensive merger support guide. This guide will include detailed information regarding any changes to your accounts, important dates, and more, and will walk you through any information you need to know. Again, changes are not expected for members for some time yet.
- If you are a member of both credit unions already, you’ll need to note that our systems are not yet joined. You won’t yet be able to transact between your TwinStar and NWCU accounts through online banking, with the app, or in the branch. However, there are 2 ways to accomplish your transactions: 1) Use any ATM at our respective locations to make transactions between our credit unions via Co-op Network. 2) Call TwinStar Member Services at 800.258.3115 or NWCU Member Connect at 800.452.9515.
- We know that many of our respective members who aren’t members of both credit unions are nevertheless eager to begin transacting from Washington or Oregon locations because it may be convenient—you may live, work, or play near one of these branches in either state. Thank you for your patience! We will communicate often about when you may expect to visit one of these new-to-you locations. For now, the Co-op Network allows transactions from our ATM locations, wherever they may be located.
If you have any questions that haven’t been addressed in the highlights above, or in other frequently asked questions below, please contact us by visiting TwinStarCU.com/Contact or calling Member Services at 1.800.258.3115.
What does this merger mean for members?
The strategic merger between NWCU and TwinStar Credit Union will provide the opportunity to achieve more positive member impact and value such as:
- More member access: Eventually, the larger branch footprint will allow us to have more impact on existing members. But bigger than that, through this partnership, we’ll be able to serve more people and provide them with access to top-notch financial products and services. Here’s how:
- More branch locations: In 2025, together we’ll be serving you from 36 locations throughout Oregon and Washington.
- Effective June 12, 2023, our qualifying Field of Membership has expanded to include 15 Oregon counties, as well the state of Washington. You can become a member if you are living and working in Washington State or the following counties in Oregon: Benton, Clackamas, Coos, Crook, Deschutes, Douglas, Jackson, Jefferson, Josephine, Klamath, Lane, Linn, Marion, Multnomah, Washington.
- Products/Services: Once we’ve combined systems in 2025, as a larger organization, we’ll ultimately gain economies of scale which will allow us to offer a more robust product and service line, reduce costs, and return more value in the form of products, services, rates, fees, and community involvement to existing and future members.
- More Responsive to Evolving Financial Needs: This partnership will allow the credit union to better anticipate and meet the financial needs of members in a competitive financial services industry.
- Enhanced Digital Banking Products: Looking ahead, this partnership will allow us to constantly assess and improve our technology solutions and make sure we’re providing the best digital banking solutions possible for members now and into the future.
- Same Knowledgeable, Friendly Employees: The same friendly staff at our branches will continue to be available to serve you.
Will my accounts be affected?
There will be no immediate effect on your accounts or account numbers at this time. As the integration of systems approaches, one credit union will need to convert to the other’s core operating systems to enhance capabilities. This is still being investigated and will not occur until sometime in 2025. As that time approaches, the credit union will work to ensure a seamless integration and will communicate important dates, changes, and next steps to ensure members can continue to conduct business with minimal disruption.
Will my rates change?
The rates on fixed-rate loans and certificates will remain the same until the end of their existing terms. Other products would adjust as normal due to market conditions.
Will my accounts continue to be insured?
Yes. Credit Union deposits will continue to be federally insured by the NCUA, meaning you have up to $250,000 in protection for an individual account*. The NCUA provides separate insurance coverage for deposits held in different ownership categories such as individual accounts, joint tenancy accounts, Individual Retirement Accounts (IRAs), and trust accounts.
Will you close branches?
There are no plans for any branch closures with the merger. In fact, this merger will provide the opportunity to expand our branch locations and enhance our digital member experience. TwinStar branches will not be available to NWCU members immediately. As the merger progresses, we will announce when these locations will be available for NWCU members.
Will I continue to get the same level of service?
Yes. Both organizations are committed to providing high levels of service for members and this will continue to be a focus for the combined organization.
What will our name be?
As of June 12, 2023, credit union locations will be designated as “Northwest Community Credit Union, a division of TwinStar Credit Union” or “TwinStar Credit Union” while we work collaboratively to determine what the credit union’s unified name will be in the future.
Who is NWCU?
NWCU is headquartered in Eugene, Oregon. Founded in 1949 by six members of Weyerhaeuser, a wood products corporation, NWCU has grown to serve a diversified membership of more than 100,000 members with 15 locations in 11 Oregon cities. NWCU is proud to support community and educational outreach, provide emergency relief, and gave more than $450,000 in community support in 2022. NWCU is committed to providing superior service, compassion, and loyalty to their members, their employees, and the communities they serve. Northwest Community Credit Union was recently named Best in State Credit Union in Oregon by Forbes.
Who will lead the merged organization?
Jeff Kennedy will be the CEO of the combined organization. John Iglesias will be the President of the combined organization.
*Accounts not separately insured. Northwest Division accounts are insured by the NCUSIF as accounts of TwinStar Credit Union.