Central Washington Federal to Merge With Gesa

Gesa Credit Union announced this week that Central Washington Federal Credit Union (CWFCU) will operationally merge into Gesa, effective December 8, 2014. The announcement came after CWFCU members voted to approve the merger in a special election, which was held at CWFCU headquarters in August and attended by representatives of both credit unions.

CWFCU’s branch will become a Gesa branch, and all CWFCU staff will join the Gesa team. The branch will be Gesa’s first in Yakima Valley.

“In this time of ever-changing conditions in an unpredictable financial world, it becomes more and more difficult for a small credit union to survive,” said Terry Wheat, CWFCU’s President and CEO. “The decision to merge with Gesa Credit Union, a financially sound organization, will benefit our members in a way that [CWFCU] is not able to accomplish on its own.”

“This merger agreement is a positive move for the Yakima Valley, Gesa’s members and the members of Central Washington,” said Don Miller, Gesa’s President and CEO. “We’ll be stronger and better able to compete in the financial services marketplace by diversifying our membership. Central Washington members will enjoy the benefit of expanded services, and together, we’ll be better able to demonstrate the credit union difference in the Yakima Valley.”

Questions about this story? Contact James Pearson: 206.340.4790, jpearson@nwcua.org. 

Posted in Federal.