Merger brings mission-focused credit unions together to provide expanded financial services to communities and members in Washington
[Sunnyside, Washington | January 1, 2021] ¬ Lower Valley Credit Union (LVCU) serving 18,500 members with $132 million in assets located in Sunnyside, WA, and Self-Help Federal Credit Union (Self-Help), an 80,000 member, $1.5 billion credit union with branches in California, greater Chicago and Milwaukee, announced a merger, effective January 1, 2021.
The combined credit union will serve nearly 100,000 members in the states of California, Washington, Illinois, and Wisconsin. The merger was approved by Lower Valley Credit Union 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 LVCU focus and commitment to members will remain unchanged.
“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.”
Self-Help is part of a family of member-owned, mission driven-credit unions, a non-profit loan fund, and a policy advocacy organization. Self-Help is dedicated to creating and protecting ownership and economic opportunities, particularly for minorities, women, rural residents and low-wealth families and communities. 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.
The merger brings six locations in Washington State into the Self-Help family:
- East Wenatchee. 478 2nd Street SE.
- Grandview. 1019 W Wine Country Road.
- Pasco. 2735 W Court Street.
- Prosser. 580 Wine Country Road.
- Sunnyside. 900 Yakima Valley Highway.
- Yakima. 1112 E Nob Hill Boulevard.
“This partnership will help build financial security for more working families and ensure that people of color, immigrants and other underserved groups have access to fair and affordable services to meet their financial needs,” said Veronica Casillas-Madrigal, California President of Self-Help. “We are honored to welcome LVCU into the Self-Help family and look forward to building meaningful relationships with our new members and providing new opportunities to the surrounding communities.”
About Lower Valley Credit Union: Lower Valley Credit Union is a $132 million, low-income designated Community Development financial Institution deeply rooted in the Yakima and Wenatchee Valleys of Washington State. Founded in 1952 and headquartered in Sunnyside, the credit union operates 6 branches located through-out Yakima, Franklin, and Douglas counties. LVCU is dedicated to serving the needs of its community and growing membership of nearly 18,500 strong through following its vision of ‘Planting Seeds of Opportunity for a Better Tomorrow’. For more information, visit www.lvcu.org
About Self-Help Federal Credit Union: With 19 branches in California, 10 branches in Illinois, and 1 branch in Wisconsin, over 80,000 members and $1.5 billion in assets, Self-Help Federal Credit Union is one of the fastest-growing low-income designated credit unions in the country. It is part of the national Self-Help family of non-profit organizations whose collective mission is to create and protect ownership and economic opportunity for all, especially those who may be underserved by conventional lenders, including people of color, especially African American and Hispanic communities; women; rural residents; and low-wealth families and communities. For 40 years, the Center for Community Self-Help and its affiliates have provided $9.7 billion in financing to help over 180,000 low-wealth borrowers buy homes, start and build businesses, and strengthen community resources. For more information, go to www.self-helpfcu.org and www.self-help.org.
FOR IMMEDIATE RELEASE: For More Information, Contact:
Jenny Shields, Director of Media Relations, Self-Help Credit Union Phone: 919.794.6798 | Email: Jenny.Shields@self-help.org
Ray Morrow, Marketing Vice President, Lower Valley Credit Union Phone: (509) 837-5295 Email: email@example.com