STCU, Community Bank to integrate Friday
Coeur d'Alene Press | UPDATED 11 months, 1 week AGO
Oregon-based Community Bank and Spokane-based STCU are set to integrate this weekend following months of preparation.
Community Bank’s 10 branch locations in Northeastern Oregon and Southeastern Washington will close at 3 p.m. Friday, when accounts will be transferred to STCU.
Before impacted branches reopen Tuesday morning, they will be rebranded as STCU, "though still staffed by the same employees that Community Bank customers have grown to know and trust," a press release said.
“Our two organizations share a commitment to serving our communities, and providing local access to financial services,” said Ezra Eckhardt, STCU president and CEO. “By integrating the Community Bank staff into our existing team, we’re ensuring that we have people on the ground who know those communities well and have earned the trust of Community Bank customers.”
“Shared core values” was a key factor in identifying a partner for integration, said Tom Moran, Community Bank president and CEO, in a press release.
“The future care of our customers, communities and employees was our foremost concern as we looked for an organization to carry on Community Bank’s 70-year heritage,” Moran said. “We are in good hands with STCU.”
STCU’s geographic footprint now includes 61 counties in North Idaho, eastern Oregon and all of Washington.
Community Bank has seven Oregon branches in Wallowa, Union, Umatilla and Baker counties. In addition, it has three branches in Washington’s Walla Walla and Asotin counties.
STCU’s existing branch network includes 39 locations in eastern Washington, the Columbia Basin, Tri-Cities and North Idaho.
Spokane Valley-based Numerica Credit Union also underwent changes recently.
Numerica laid off 25 employees in March, citing inflation rates and challenges in the local housing market. The layoffs made up about 3.5% of Numerica's total workforce across North Idaho, Spokane, the Tri-Cities and Wenatchee.
Numerica's financial position "remains strong," a press release said.
North Idaho employees were not affected by the layoffs.