Today, the Board of Directors of GH Woodworkers Federal Credit Union and Great NorthWest Federal Credit Union publicly announced their intent to merge after completing a Merger Agreement. GH Woodworkers will merge into Great NorthWest under the proposed plan February 1st, 2017.
Mike Lewin, Board Chair at Great NorthWest FCU and an IAM Woodworkers Union member, said that the proposed merger is of great benefit to both credit unions. “We’re excited about the opportunity to serve as your financial partner and to continue GH Woodworkers’ legacy of service. Our respective memberships have deep roots in Grays Harbor and this merger will strengthen our commitment to the area. We’re humbled to be chosen as the merger partner of GH Woodworkers FCU.”
Walt Hilliard, Board Chair at GH Woodworkers stated, “After meeting with the CEO’s of three local credit unions, we decided the best fit to serve our close knit membership was Great NorthWest Federal Credit Union. We are in the midst of working with them to provide a smooth, seamless merger. The current location will remain open for at least 3 months, maybe longer depending on circumstances.”
“We’ve dedicated staff to assist members during the merger and we’re looking forward to strengthening our community relationship”, stated Doug Page, a longtime Great Northwest employee and CEO since 2014. “We consider our biggest asset to be our members. We value the trust and opportunity to serve you every day.”
Members will remain federally insured up to $250,000 through the National Credit Union Share Insurance Fund after the completed merger. The combined credit union will serve roughly 14,000 members with assets exceeding $135 Million in Grays Harbor and Pacific counties in Washington.
Great Northwest FCU was chartered in April 1953 as Shafer Mill Employees Credit Union. After a series of mergers and name changes, the credit union petitioned for an expansion to become a community charter. This expanded the field of membership to anyone who works, lives or worships in Grays Harbor or Pacific Counties. In December of 2000, the name was changed from Twin Harbors Federal Credit Union to Great Northwest Federal Credit Union.
GH Woodworkers FCU was chartered in 1955 to serve the needs of IAM Woodworkers W2 Union members and families. Later, membership expanded to include Sierra Pacific employees, and Teamsters Local Lodge # 117 Stafford Creek Corrections Center members. In 2016, Grays Harbor Community Hospital FCU merged into GH Woodworkers FCU.