Member & Chapter News


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Sound, Watermark CUs Merge
Regulators approved the merger of Watermark CU and Sound CU, which would create a $1.1 billion credit union.

The new credit union will be headquartered in Tacoma and will have 21 branches in western Washington. The board will consist of 12 members with equal representation from the two credit unions. Rick Brandsma, who will be the CEO of the new credit union, said “We are very pleased to received approval from both national and state regulators.”

The new Sound CU will be the sixth largest credit union by assets in the Northwest.

Rogue Federal Credit Union honors community volunteers
Rogue Federal Credit Union honored community volunteers making a difference in Southern Oregon during its third annual Rogue Community Builder Award campaign.  Five finalists were chosen from a list of nominees contributed by community members and Rogue Federal staff members. Voting ran April 5-17 via Facebook with a total of more than 700 votes being cast.

The finalists were:

  • Kevin Lamson, executive director of Hearts With A Mission, an emergency shelter for homeless, runaway, and at-risk youth between the ages of 10-17 for up to 120 days;
  • Wayne McNaught and Gary Shipley, co-owners of Impact One Leadership, which offers youth the opportunity to step outside of their comfort zones in a supportive environment of their peers with one-of-a-kind classes;
  • Cindy Gould, who is involved in Special Olympics and Dreamz Work, which aid adults with developmental disabilities through supported living and other programs;
  • Donny Roze, executive director of Hearts and Hope Musical Ministries, which enhances the quality of life for vulnerable people, the elderly, and those with special needs; and
  • Jim Ronda, who works in the juvenile justice system through Rogue Valley Youth for Christ, Campus Life Ministries, giving kids guidance, support and encouragement and helping them to meet the emotional, physical and spiritual needs in their lives.

Kevin Lamson won first place, Gary Shipley and Wayne McNaught second, and Cindy Gould third. A total of $2,000 was awarded to the Rogue Community Builder winners. 

Rogue FCU “Pedals” Sustainability Initiative
To incentivize an active, healthy lifestyle and green living, Rogue Federal Credit Union, of Medford, Ore., is challenging its employees to ride their bicycles to work at least 45 times this year, in an effort to improve health. Twenty employees have taken up the challenge; and if they meet the target, the credit union will pay for the bike.

“It is a great experience and one that I never realized I would enjoy so much,” said Rogue FCU CEO & President Gene Pelham. “We offered them a no-interest loan up to $500 to purchase the bicycle and if they complete the terms the challenge the loan is forgiven.”

The program originated a couple of years ago when a local business, Standing Stone Brewing Company, offered free bicycles to employees who would make the 45-day minimum commitment. The program was such a resounding success that the company began challenging other local businesses to match the effort.

“It has been a great program for our employees,” smiled Pelham. “I find that it really has improved both my mental and physical perspective at the start of a day.” 

NWCUA Launches New Chapter Website
As part of the Association’s objective to refine and improve its Chapter support program, it has launched a new webpage where credit union professionals can go to learn about their chapter.

The page includes an interactive map of each of the chapters in Oregon and Washington, with information about upcoming meetings, leadership and contact information, and which credit unions are part of the chapter.

Please continue to submit chapter meeting and leadership information to Director of Outreach Programs Kasey Rockwell: 503.350.2217,


Questions? Contact Director of Outreach Programs Kasey Rockwell: 503.350.2217,

Posted in Compliance News, Federal.