Numerica Credit Union and SELCO Community Credit Union have announced plans to merge as equals, forming a credit union with nearly $8 billion in assets and more than 325,000 members.
Both institutions rank among the strongest in the Pacific Northwest, according to regulatory examiners. Once combined, they would operate 38 branches and become the second-largest Oregon-chartered credit union by assets.
How the Combined Credit Union Will Be Set Up
The merged organization will operate under SELCO’s Oregon charter, with headquarters in Springfield, Oregon. Numerica’s current base in Spokane Valley will become the secondary headquarters and will house the CEO’s office.
No branches are slated to close. The two credit unions serve different parts of the region, so there’s little overlap to trim.
After the merger, the combined organization will go by the Numerica Credit Union name. Carla Cicero, Numerica’s President and CEO, will lead it. SELCO’s Bob Newcomb will guide SELCO through the legal integration and then retire, wrapping up a career of more than 44 years in the credit union movement. That integration is expected to finish by early 2028.
What the Leaders Are Saying
Cicero called it a natural fit. “For nearly 90 years, Numerica has lived our core purpose of enhancing lives, fulfilling dreams, and building communities,” she said. “SELCO shares that mission, making this a natural partnership founded on common purpose and a commitment to growing with our members’ needs.”
Newcomb pointed to what the added scale could do. Pooling the strengths and resources of two high-performing, mission-aligned organizations, he said, should mean new products and services, more investment in technology and account security, and a stronger long-term financial footing.
Community Giving Gets a Boost
The merger is also expected to expand capacity for community giving and financial education. The two credit unions already have a track record here. Over the past three years, they’ve jointly contributed:
- More than $7 million in sponsorships and donations
- Nearly 58,000 volunteer hours
- More than 1,500 hours of financial education
What Happens Next
Both boards of directors have unanimously approved the deal. It still needs regulatory approval and a vote by Numerica’s membership before it becomes official.
Until the systems and processes are fully integrated, SELCO and Numerica will keep operating independently. In the meantime, the two will work together on a shared identity meant to honor both organizations’ roots and their common goal of improving members’ lives and communities.
What It Means for Members
If you bank with either credit union, nothing changes right now. Your accounts, branches, and day-to-day services stay as they are. Numerica members should watch for details on the upcoming vote, since your voice is part of the approval process. Over the longer run, expect broader product offerings, stronger security and technology, and more community programs as the two organizations come together.