TwinStar Credit Union (Twinstar) and Northwest Community Credit Union (NWCU) are now legally one organization featuring a combined 700 employees and serving 245,000+ members.
Twinstar posted merger updates saying that NWCU is now officially a division of TwinStar as of June 12, 2023.
NWCU members provided the third and final approval of the merger between TwinStar and NWCU on May 15, 2023. Regulatory approval was received February 17th. Member voting occurred March 27–May 15th.
Several steps are underway before the expanded credit union can begin serving the combined membership in locations across Oregon and Washington.
Twinstar says that there will be limited changes for their members in 2023, although as of this week NWCU will be known as “Northwest Community Credit Union, a division of TwinStar Credit Union” in their signage, greetings, documents, email and business cards.
That change indicates that NWCU has adopted the Washington State charter for credit unions.
Eventually, a new unified name will be adopted for the combined organization.
Work to integrate banking systems is underway, with the goal of having the systems fully integrated in late 2024 or early 2025.
As system integration nears, members will receive a comprehensive merger support guide with information regarding any changes to your accounts, important dates, and more. T
There will be no immediate effect on your accounts or account numbers at this time. As the integration of systems approaches, one credit union will need to convert to the other’s core operating systems to enhance capabilities.
“This is still being investigated and will not occur until sometime in late 2024 or early 2025. As that time approaches, the credit union will work to ensure a seamless integration and will communicate important dates, changes, and next steps to ensure members can continue to conduct business with minimal disruption. “
The rates on fixed-rate loans and certificates will remain the same until the end of their existing terms. Other products would adjust as normal due to market conditions.
There are no plans for any branch closures with the merger. TwinStar branches will not be available to NWCU members immediately, but opportunities for joint availability will be announced.