With nearly $8 billion in assets and more than 325,000 members, the combined organization will become the second largest Oregon-chartered credit union
(SPRINGFIELD, Ore.) — Driven by the opportunity to do even more for their members, SELCO Community Credit Union and Numerica Credit Union have announced a merger of equals, uniting two credit unions rated among the strongest in the Pacific Northwest by regulatory examiners.
Upon completion, the combined credit union will serve more than 325,000 members and operate 38 branch locations, with nearly $8 billion in assets, making it the second largest credit union by asset size in Oregon.
The combined organization will operate under SELCO’s Oregon charter and Springfield, Oregon headquarters. Because SELCO and Numerica serve distinct geographic areas, there are no plans to consolidate branches, and Numerica’s current headquarters will become the combined credit union’s secondary headquarters and house the office of the CEO.
“This partnership brings together two credit unions that are connected by purpose and driven by opportunity,” said Bob Newcomb, SELCO’s President and CEO. “Merging the strengths and resources of high-performing, mission-aligned organizations means we will be able to offer additional products and services, increase investments in technology and account security, and support the combined credit union’s long-term financial health.”
The merger will also expand resources for additional community giving and financial education initiatives.
“Both SELCO and Numerica have long histories of investing in our communities and helping people achieve greater financial well-being,” said Newcomb. “Together, that commitment has amounted to $7 million in sponsorships and donations, nearly 58,000 hours of volunteerism, and more than 1,500 hours of financial education over the past three years.”
The merger, which has been unanimously approved by SELCO and Numerica’s Boards of Directors, is subject to regulatory approval and a vote by Numerica’s membership.
“Today marks an exciting new chapter for Numerica and SELCO,” said Carla Cicero, Numerica’s President and CEO. “For nearly 90 years, Numerica has lived our core purpose of enhancing lives, fulfilling dreams, and building communities. SELCO shares that mission, making this a natural partnership founded on common purpose and a commitment to growing with our members’ needs.”
Following the merger, the combined organization will operate under the Numerica Credit Union name with Cicero serving as President and CEO. Newcomb will lead SELCO through the legal integration, then retire upon its completion, concluding a career of more than 44 years in the credit union movement. Legal integration is expected to be completed by early 2028.
Members will experience no immediate changes, as the two organizations will operate independently as SELCO and Numerica until their systems and processes are integrated. In the meantime, the credit unions will partner to develop a shared identity that honors both organizations’ long histories and united vision for improving the lives of their members and communities.
“We couldn’t be more excited about what we’ll build together for our members, employees, and the communities we all call home,” said Cicero.
For more information about the merger, visit selco.org/merger and numericacu.com/merger.
About SELCO Community Credit Union:
Founded in 1936 by a group of fiscally minded teachers, Springfield-based SELCO Community Credit Union today serves more than 150,000 members as one of the largest and longest-standing Oregon-based credit unions. A not-for-profit, federally insured, member-driven financial cooperative with more than $3 billion in assets, SELCO provides exceptional rates and low fees on a full range of financial products and services, including banking, mortgages, personal and business loans, investment management, and property & casualty insurance. Membership is available to anyone who lives or works in one of the 27 Oregon counties or eight Washington counties SELCO serves. For more information or to become a member today, stop by one of SELCO’s 15 branches, visit selco.org, or call 800-445-4483.
About Numerica Credit Union:
Headquartered in Spokane Valley, Numerica serves the financial needs of more than 175,000 members. It invests earnings toward enhancing lives, fulfilling dreams and building communities in Eastern Washington, Central Washington and North Idaho. Membership is open to anyone who lives, works or worships in the state of Washington or North Idaho. With more than $5 billion in assets under management, Numerica is federally insured by NCUA and an Equal Housing Opportunity lender. Learn more at numericacu.com.
Contacts
SELCO Community Credit Union
Jacob Berns, SELCO, 541-338-3841, jberns@selco.org
Zack Hall, DVA Advertising & PR, 775-338-0745, zack@dvaadv.com
Numerica Credit Union
Stephanie Stevenson, 509-755-7319, sstevenson@numericacu.com
