New Collaboration
Notice of Intent to Merge
November 6, 2024
Vocality Community Credit Union is excited to announce its intent to merge into Community First Credit Union bringing together two respected credit unions to enhance value for members, employees, and local communities. A merger is a collaboration where two entities combine their business operations and become a single entity. The merger, expected to be completed in 2025, has been unanimously approved by the Boards of Directors and leadership teams of both CFCU and VCCU. We will be better together!
Vocality Community Credit Union and the community we serve has been experiencing a downturn in the economy. If you’re a member living in this area you are experiencing the same things as we are; reduced income and growing expenses! The long-term sustainability of the credit union and service to the communities we serve, finding the right fit and trusted partner to help weather these economic hardships and look to the future was what we’ve found with Community First Credit Union.
This is the early announcement, and more information will be forthcoming. For the most up to date information check in at www.vocalityccu.org/VCCU-CFCU. We look forward to this long-term collaboration!
More Information Coming Soon!
Vocality Member FAQ
1. What is a Merger?
A merger is a collaboration where two entities combine business operations and become a single entity. Vocality Community Credit Union is merging with Community First Credit Union. We will be better and stronger together!
2. Why is Vocality Community Credit Union Merging?
VCCU and the community we serve have been experiencing a downturn in the economy. If you’re a member living in this area you are experiencing this strain of reduced income and growing expenses on your household or business. We have determined that a partner is needed for the long-term sustainability of the credit union and continued support for the communities we serve.
3. Why Community First Credit Union?
Community First is a like-minded credit union that values strong ties to the community and providing excellent service to their members. They were formed by a group of teachers who were denied home loans from big banks due to their lack of summer income. They took matters into their own hands (not too different from our origin story). Later they merged with Mendo-Lake Credit Union and continued their support of small communities of underserved individuals. They are certified as a Community Development Financial Institution, just like us! They are fully invested in serving their membership communities and pride themselves on a truly local experience.
4. What will be the name of the combined entity?
Community First Credit Union
5. Who will lead the organization?
Scott Johnson, CEO of Community First Credit Union will be leading the organization. Leadership from Vocality will be joining the team to ensure our communities have an active voice in the future.
6. Will the staff be retained?
All staff in good standing at the time of merger will be offered positions with Community First Credit Union. CFCU is proud to be able to keep the staff and jobs in the communities to continue the trusted service from local people you know.
7. How will members of VCCU benefit from the merger?
Members will have continued service at your favorite VCCU location along with; access to 10 new branch locations, a variety of new product and account options, great competitive rates, enhanced electronic services, youth scholarship opportunities, and much more.
8. Will the VCCU branches be closing?
NO, all VCCU branches will remain open.
9. Will I still receive the same service I receive from VCCU today?
Yes, you’ll continue to see the same faces in the branches and voices on the phones. In fact, service will improve as you’ll have more branches to visit and extended call center hours.
10. How will I receive more information about the merger plan?
More information will be available online at www.vocalityccu.org/VCCU-CFCU important information will also be emailed or sent to members in the mail. We will be hosting several Town Hall style meetings for members to provide more information. The first town hall meeting will be at 6:00pm on December 4th at the Mateel Community Center (59 Rusk Lane Redway, CA).
There are so many advantages to merging with Community First Credit Union!
We look forward to this long-term collaboration!
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