SELCO Becomes First Oregon Credit Union to Offer Trust Services

Press Release

Jan 25, 2017—SELCO Community Credit Union Becomes First Credit Union in Oregon to Offer Trust Services

Trust Services provide valuable and often overlooked tools to help members preserve and pass along assets to future generations

(EUGENE, Ore.) — SELCO Community Credit Union has partnered with Comerica Bank & Trust, one of the United States’ leading trust institutions, to become the first Oregon credit union to offer trust services to members.

Through SELCO Investment and Retirement Services, SELCO members now have the ability to set up trusts that allow a third party, or trustee, to hold assets on behalf of their beneficiaries. Trusts can be used for a variety of purposes, including preserving assets by minimizing estate taxes as they are passed on. By offering trust services, SELCO can meet the financial needs of its members and better serve those who have been neglected by the largest financial institutions, which typically focus on large trusts with assets of more than $5 million.

“So many of our members have worked a lifetime to build wealth, and often they want to pass those assets on to loved ones, their alma mater, a favorite charity, or all of the above,” said Bob Newcomb, the President/CEO of SELCO Community Credit Union. “Our new trust services are aimed at helping those members, even those with smaller estates, preserve their hard-earned wealth and fulfill a lifelong goal of passing what they have earned on to the next generation.”

Under the partnership, Comerica Bank & Trust will fulfill the role of trustee. In that role, Comerica is responsible for funding, managing investments, accounting, and tax reporting for the trusts, as well as distributing the funds to the beneficiaries. SELCO’s financial advisors will act as the liaison, working with the trustee and SELCO members to guide them through the process of establishing a trust account with Comerica. In addition, as liaison SELCO will balance distributions for beneficiaries and ensure that assets are wisely invested and managed.

“Comerica’s experience, objectivity, and ability to make decisions for the trust that are unbiased and in the best interests of members make them an ideal partner,” said Ted Rubin, Vice President of SELCO Investment and Retirement Services. “In addition, SELCO’s own advisors work side by side with trustees, trust attorneys, and CPAs to ensure all legal, tax, and administrative needs are efficiently managed, giving our members peace of mind.”

For more information about SELCO’s trust services, visit the SELCO Investment and Retirement Services page. For more information on SELCO Community Credit Union and its full range of product offerings, visit

About SELCO Community Credit Union
Founded 80 years ago by a group of fiscally minded teachers, Eugene-based SELCO Community Credit Union today serves more than 120,000 members as the third largest Oregon-based credit union. A not-for-profit, federally insured, member-driven financial cooperative with more than $1.2 billion in assets, SELCO is able to provide its member-owners with exceptional rates and low fees on a full range of financial products and services including banking, mortgages, personal and business loans, investments, and insurance. Membership is available to anyone who lives or works in 26 Oregon counties. For more information or to become a member today, stop by one of SELCO’s 15 branches, call 800-445-4483, or visit

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