Springfield, Ore. – In a move that strengthens financial options for families and small businesses across the Pacific Northwest, SELCO Community Credit Union and Numerica Credit Union announced Wednesday that they will merge as equals. The combined credit union will operate under the SELCO Oregon charter, retain both headquarters, and keep all existing branches open, ensuring members see no immediate disruption.
What the merger means for members
When fully integrated, the new entity will serve more than 325,000 members at 38 locations and hold close to $8 billion in assets, making it the second‑largest credit union by asset size in Oregon. Both cooperatives emphasized that the partnership will expand product offerings, boost investments in technology and account security, and preserve the member‑first philosophy that defines credit unions.
Leadership and governance
Numerica President and CEO Carla Cicero will lead the combined organization as President and CEO, while SELCO President and CEO Bob Newcomb will oversee the legal integration before retiring after a 44‑year career in the credit‑union movement. The merger has already received unanimous approval from both boards and now awaits regulatory clearance and a vote by Numerica’s membership.
Community impact
Both credit unions have a long history of community giving. Over the past three years, SELCO and Numerica together contributed roughly $7 million in sponsorships and donations, logged nearly 58,000 volunteer hours, and delivered more than 1,500 hours of financial‑education programming. The merged institution pledges to continue and expand these efforts, reinforcing its commitment to helping families achieve financial stability and pursue their dreams.
Local focus remains unchanged
Because SELCO and Numerica serve distinct geographic markets—SELCO primarily in Oregon and Numerica in eastern Washington, central Washington and north Idaho—there are no plans to consolidate branches. Numerica’s Spokane Valley headquarters will become a secondary hub, housing the CEO’s office, while the primary headquarters remains in Springfield, Oregon.
Next steps
Members will continue to interact with their local credit‑union branches as before while the two organizations work together on a shared brand identity that honors both legacies. The legal integration is expected to be completed by early 2028. For more details, members can visit the merger information pages on selco.org/merger and numericacu.com/merger.
Why this matters to our community
Strong, locally focused financial cooperatives are essential to the health of families and small businesses. By combining resources, SELCO and Numerica are positioning themselves to offer better rates, more robust digital tools, and continued support for community projects—aligning with the values of personal liberty, family stability, and faith‑based stewardship that many of our readers hold dear.
Original reporting: KTVZ (Central Oregon) — read the source article.
