Partnership Between Two Idaho Credit Unions Gives New Meaning to ‘People Helping People’
June 29, 2021
Simplot Employees Credit Union has been steadily growing its membership for the past 45 years. As the Caldwell, Idaho-based credit union that serves J.R. Simplot Company and its subsidiaries’ employees, its membership has more than doubled over the years, meaning the credit union needed a larger space to better serve its members.
CEO Ben Grayson credits Simplot’s relationship with the Northwest Credit Union Association and its member credit unions as the catalyst for finding that new space.
“Through our connection within NWCUA, we heard that Pioneer Federal Credit Union was moving out of their downtown Caldwell location to a new branch they had built and would be selling the building,” said Grayson.
Pioneer, headquartered in Mountain Home, Idaho, was in the midst of building a new branch and making plans to sell the credit union’s former property. While several parties were interested in purchasing the building, it was an easy decision when Grayson reached out to Pioneer CEO Curt Perry to check on its availability.
Pioneer gave Simplot first right of refusal on purchasing the property, Perry explained.
“Even though our property was not on the market yet, once we knew another credit union was interested, we moved them to the front of the pack. We provided time for Simplot to perform due diligence and decide if they wanted to take the interest further,” Perry said. “We value everyone within the Credit Union Movement, whether you happen to be a member of a credit union or another credit union competing for business.”
Just two miles separated the credit unions’ locations, and as Grayson toured the facility, he realized it was a great fit for Simplot.
“Curt gave us plenty of time to perform an inspection, get bids on remodeling, and put a budget together to review with our Board of Directors,” he said. “In the end, we were able to purchase the building for a fair price for both memberships.”
Simplot plans to move into the building later this summer, once the remodeling is complete. Grayson said the credit union motto of “People Helping People” extends to more than just members.
“This is just one more occasion of Credit Unions Helping Credit Unions.”
Posted in Around the NW.