BusinessSunday, November 1
Numerica Credit Union plans to merge with Oregon's SELCO to create an $8 billion lender
The Daily Spokane team
If you bank at Numerica, nothing changes right away. The credit union announced a proposed merger with SELCO Community Credit Union of Springfield, Ore. The combined lender would have 320,000 members and $8 billion in assets, the Lewiston Tribune reports. CEO Carla Cicero said there are "not immediate changes to accounts or how members access their money."
A combined Numerica would top STCU's 315,000 members
Source: The Lewiston Tribune
View as table
| Value | |
|---|---|
| Numerica today | 175K |
| Numerica and SELCO | 320K |
| STCU | 315K |
| Boeing Employees' | 1.5M |
Cicero would lead the merged credit union, which would keep the Numerica name and a Spokane Valley headquarters. SELCO's Bob Newcomb plans to retire after the merger. Numerica's FAQ says there are "no plans to close branches."
- Branches: 38 across Washington, Oregon, and North Idaho
- Employees: more than 1,100
- Approvals: three regulators first, a process that could take four to six months
- Then: Numerica and SELCO members vote, on a timeline not yet set
Numerica has grown from a railroad credit union to a proposed merger
- 1937Railroad workers form the Great Northern Employees Credit Union.
- 2000The Spokane Railway Credit Union changes its name to Numerica.
- Oct. 2026Numerica and SELCO announce a proposed merger.
- Early 2028Legal integration of the two credit unions is expected to finish.
Sources: The Lewiston Tribune, NonStop Local KHQ
Editor's note in the Tribune's reprint of the Spokesman-Review story: Cicero sits on the board of Comma Community Journalism Lab, which is in talks to take over the newspaper from Cowles Publishing Company.
Sources: The Lewiston Tribune, NonStop Local KHQ