Oregon and Washington Credit Union Foundations Approve Merger to Enhance their Philanthropic Support the Northwest Credit Union Community

FOR IMMEDIATE RELEASE
October 18, 2011                                                            
 CONTACT:
Troy Stang, President of OCUF
503.350.2212
RoxAnne Kruger, Executive Director of WCUF
206.340.4771

BEAVERTON, OREGON— The boards of the credit union foundations of Oregon and Washington unanimously approved on October 14th a merger plan to become the Northwest Credit Union Foundation (NWCUF) effective January 1, 2012.

The combined resources of the Oregon Credit Union Foundation (OCUF) and the Washington Credit Union Foundation (WCUF) will result in greater resources available to support broader community outreach endeavors, small credit union development grants, and professional development scholarships, according to OCUF Chair Carlyn Roy and WCUF Chair Paula Slaye.

Each foundation has more than a decade of history rich in funding grants which leverage the credit union movement’s commitment to consumer financial education, and supporting numerous outreach endeavors that sustain Northwest communities. Combined grant awards by the two organizations so far in 2011 have exceeded $225,000.

“The development of our future industry leaders is an important benefit that both foundations have traditionally provided,” said Roy. ”Once merged, credit unions of all asset sizes throughout the Northwest can be assured that we will have a stronger foundation with solid leadership moving forward.”

“The membership will realize benefit from the merger because we will be more streamlined and effective in providing professional development, training, disaster relief and credit union outreach,” added Slaye. “Our foundations are already closely aligned in our mission and collaboratively we will seize this opportunity to become even more impactful.”

To that end, programs and services to applicants and beneficiaries of the respective foundations will not be interrupted during the transition.  Business continuity will be top of mind.

The governance integration will provide for the trustees currently serving on the WCUF and OCUF boards to serve on the newly formed foundation board during its transition year in 2012.  A NWCUF strategic planning session is planned for the first quarter of 2012.

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The Oregon Credit Union Foundation is a 501(c)(3) philanthropic organization serving Oregon credit unions. Its mission is to promote and improve financial independence through the credit union movement.

The Washington Credit Union Foundation is a 501(c)(3) philanthropic organization which helps advance the credit unions of Washington State. Its mission is to support and promote credit union development and credit unions’ commitment to social responsibility.

Click here to download a copy of the press release.

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