SUNNYVALE, Wash.–The $132-million Lower Valley Credit Union has merged into Durham, N.C.-based Self-Help FCU.
The $1.5-billion Self-Help had 80,000 members and branches in its home market, California, greater Chicago and Milwaukee.
The merger was approved by members, both credit union boards and by the state and federal credit union regulators.
The organization will now operate as Lower Valley Credit Union, a division of Self-Help Federal Credit Union.
“The decision to partner with Self-Help Federal Credit Union was clear,” said Suzy Fonseca, president/CEO of LVCU. “Our missions are so closely aligned that it is a natural fit. Our members will benefit immensely from the enhanced services and additional product offerings that Self-Help brings, such as a renewed focus on real-estate and business lending, as well as competitive deposit rates and a vast ATM network, just to name a few.”
The credit union noted in announcing the merger Self-Help is part of a family of member-owned, mission-driven credit unions, a non-profit loan fund, and a policy advocacy organization.
‘Responsible Financial Services’
“Self-Help is dedicated to creating and protecting ownership and economic opportunities, particularly for minorities, women, rural residents and low-wealth families and communities,” the credit union noted. “Self-Help Federal Credit Union was chartered in 2008 to increase access to responsible financial services for underserved and low-income populations. Like LVCU, Self-Help has a strong presence among Hispanic communities.”
Lower Valley CU has six branches in Washington State.
“This partnership will help build financial security for more working families,” said Veronica Casillas-Madrigal, California president of Self-Help. “We are honored to welcome LVCU into the Self-Help family.”