MOUNTAIN HOME, Idaho—The $402-million Pioneer Federal Credit Union said it has completed a merger with Cornerstone Credit Union of Caldwell, Idaho.
The merger was approved by NCUA and the Idaho Department of Finance and became effective on June 1st, 2016.
“Because of our similar philosophies and shared cooperative values, Cornerstone Credit Union and Pioneer FCU are in a unique position to merge organizations founded on excellence and trust,” the credit unions said in a statement.
Cornerstone Credit Union’s single branch will become the 15th branch of Pioneer FCU.
“We were interested [in the merger] because we wanted Cornerstone members to stay with an Idaho credit union and we felt both sides had a lot to offer the other,” said Curt Perry, president and CEO of Pioneer FCU in a statement. “We had already purchased land to open a Caldwell branch and Cornerstone was looking for a merger partner that would continue to serve their 4,000 members as they had. Caldwell members who were previously Cornerstone CU members will have more access to products and services that didn’t exist for them before, such as one of the highest rated mobile banking apps in the state of Idaho, mobile check deposit and 14 local Idaho branches to serve them.”
The new Caldwell branch will be modeled after Pioneer FCU’s Boise branch located on Broadway Avenue, which received a national Credit Union National Association award for branch design in 2015 for the innovative integration of technology. Inside the Boise (Broadway Ave.) branch, an interactive video board allows visitors to learn about credit union products, search for branch locations, and test their knowledge with financial quizzes. Members can even access their accounts on their mobile device through fingerprint and eye-scan verification.
“These additions reflect our commitment to technology and serving our members in the way that works best for them,” said Newberry.