With an asset scale of nearly $8 billion and over 325,000 members, the merged institution will become the second-largest state-chartered credit cooperative in Oregon based on asset size.

Springfield, Oregon, and Spokane Valley, Washington, October 28, 2026 / PRNewswire / -- In order to provide members with more service opportunities, SELCO Community Credit Union and Numerica Credit Union announce a mutual merger. Both credit cooperatives have been rated by regulatory agencies as some of the strongest credit cooperatives in the Pacific Northwest region.

The announcement states that upon completion of the merger, the new credit cooperative will serve over 325,000 members, operate 38 branches, and have an asset size of nearly $8 billion. It will become the second-largest credit cooperative in Oregon based on asset size.

The merged institution will continue to utilize the franchise qualifications of SELCO in Oregon, with its headquarters located in Springfield, Oregon. Since SELCO and Numerica serve different geographical areas, there are no plans to integrate their branch networks for the time being; Numerica's current headquarters will become the second headquarters of the merged credit cooperative, and an office for the Chief Executive Officer will be established there.

"Today marks a thrilling new chapter for Numerica and SELCO," said Carla Cicero, President and CEO of Numerica. "For nearly 90 years, Numerica has been committed to the core mission of enhancing lives, realizing dreams, and building communities. SELCO shares the same mission, so this is a natural partnership built on common goals and a commitment to grow together with the needs of our members."

"This collaboration brings together two credit cooperatives that are connected by a shared mission and driven by opportunities," said Bob Newcomb, President and CEO of SELCO. "By combining the strengths and resources of high-performing organizations with a common mission, we will be able to offer more products and services, increase investment in technology and account security, and support the long-term financial health of the merged credit cooperative."

The announcement states that this merger will also expand resources to be used for more community donations and financial education projects.

Newcomb indicates that: SELCO and Numerica have been investing in their respective communities for a long time, helping people achieve a higher level of financial well-being. Over the past three years, this commitment has been reflected in $7 million in sponsorships and donations, nearly 58,000 hours of volunteer service, as well as over 1,500 hours of financial education.

This merger has been unanimously approved by the boards of directors of SELCO and Numerica, but it still requires regulatory approval as well as a vote from the members of Numerica.

After the merger is completed, the combined entity will operate under the name of Numerica Credit Union, with Cicero serving as the President and Chief Executive Officer. Newcomb will lead SELCO to complete the legal integration and will retire after the integration is finished, bringing to an end a 44-year career in the cooperative banking sector. The legal integration is expected to be completed by the beginning of 2028.

Both institutions stated that members will not notice any changes in the short term; until the systems and processes are fully integrated, both parties will continue to operate independently under the names SELCO and Numerica. At the same time, the two credit cooperatives will collaborate to create a common identity that reflects their long histories and their shared vision of improving the lives of members and the community.

"We are incredibly excited about what we will build together for the members, employees, and the community that we all call home in the future," stated Cicero.

For more merger information, please refer to selco.org / merger and numericacu.com / merger.

About SELCO Community Credit Union:

SELCO Community Credit Union was established in 1936 by a group of teachers who focused on financial management, with its headquarters located in Springfield. Today, as one of the largest and oldest local credit cooperatives in Oregon, SELCO serves over 150,000 members. As a non-profit, federally insured, member-driven financial cooperative, SELCO has assets exceeding $3 billion and offers a comprehensive range of financial products and services at competitive interest rates and lower fees. Anyone who resides or works in the service areas of SELCO in 27 counties of Oregon or 8 counties of Washington State is eligible to apply for membership.

Regarding Numerica Credit Union:

Numerica is headquartered in the Spokane Valley and provides financial services to over 175,000 members. The organization invests its earnings in improving lives, realizing dreams, and building communities in Eastern Washington, Central Washington, and northern Idaho. Anyone who resides, works, or engages in religious activities in Washington State or northern Idaho is welcome to join. Numerica manages assets worth over 5 billion dollars and is federally insured by the National Credit Union Administration (NCUA), and it also serves as a lending institution for equal housing opportunities.

Contact Person:

Numerica Credit Union : Stephanie Stevenson, 509-755-7319, [ email protected ]

SELCO Community Credit Union : Zack Hall , DVA Advertising & PR , 541-876-6811, [ email protected ]

Jacob Berns, SELCO, 541-338-3841, [ email protected ]