Northwest Community Credit Union has completed its merger with Fred Meyer Employees Federal Credit Union in Portland, Oregon as of November 2, 2014. Both the credit union’s main office at 12001 SE Morrison Street and a Brooklyn-neighborhood branch located in the Fred Meyer corporate campus at 3800 SE 22nd Avenue began operating as Northwest Community Credit Union on July 1, 2014. The credit union also has an office in Bend, Oregon.
Fred Meyer Credit Union’s membership voted to approve the merger on May 29, 2014. Several former FMECU employees were retained through the transition period. Northwest Community has provided management support for the credit union since May.
“Northwest Community merger activity begins as a conversation of mutual interest with both organizations’ boards of directors under the guidance of the National Credit Union Association (NCUA),” said Northwest Community President and CEO John Iglesias. “The focus is on improving member services and ensuring regulatory compliance.”
For smaller, struggling credit unions, a merger can both fulfill commitments to a loyal membership, as well as improve access to financial services. “Northwest Community is pleased to be uniquely positioned to bring our financial strengths to partner with and help other credit unions,” Iglesias said.
The former Fred Meyer Credit Union members gain access to Northwest Community’s 19-branch network, serving members regionally in Portland, Oregon City, Albany, Eugene, Springfield, Cottage Grove, Bend, Redmond, Roseburg, North Bend, Coos Bay, Grants Pass, and Medford locations.
Northwest Community also provides live phone support and member services at-large in the Northwest through 1-800 dialing and online banking, which will be important to more than two thirds of the acquired members, who are distributed throughout Alaska, Washington, Idaho, Oregon and 36 additional states.
Northwest Community is headquartered in the Gateway Support Center in Springfield, Oregon.
About Northwest Community
Originally founded by 6 members of a wood products corporation in 1949, Northwest Community has grown to serve a diversified membership of more than 98,000 with employment base extending to many types of industry and community. With more than $901 million in member-owned assets in 2014, Northwest Community has also developed partnerships with local charitable outreach organizations and businesses for more than three decades in each of the local neighborhoods served by branches in 13 Oregon cities.
