[june 21, 2022]
The conversion includes 9,000 Banner clients whose deposit accounts at those locations will move to STCU. All Banner staff at those locations have been offered positions at STCU.
The four-branch conversion gives STCU 38 branch locations, all in Eastern Washington and North Idaho. The Hayden Branch gives STCU a total of six locations in rapidly growing Kootenai County. The three new Washington branches all in Stevens County, home to 4,300 existing STCU members and the most commonly requested location for an STCU branch.
“We’re happy to be able to reward those members’ patience, and strengthen our commitment to rural communities,” said Ezra Eckhardt, president and CEO of the Spokane-based credit union. “While members increasingly turn to digital tools like the STCU mobile app for everyday transactions, a face-to-face visit remains foundational to the STCU experience.”
Months in the works, the friendly branch conversion was approved by four regulatory agencies: The Federal Deposit Insurance Corporation; the National Credit Union Administration; the Washington Department of Financial Institutions; and the Idaho Department of Finance.
“Banner’s team and ours have worked together to ensure this conversion is as seamless as possible for our new members,” Eckhardt said.
Founded by a small group of Spokane schoolteachers in 1934, STCU now has 250,000 members from all walks of life, living in all 50 states. STCU has $5 billion in total assets.