STCU Opens New Office in Spokane Valley; Completion of the merger

Spokane Teachers Credit Union announced Monday that it will be opening its third branch in Spokane Valley and will complete a merger with Coulee Dam Federal Credit Union early next month.

On Wednesday, the STCU announced in a press release that it will open the 3,157 square foot Argonne Branch, 9209 E. Mission Ave., which is located on the northeast corner of Mullan Road and Mission.

“Spokane Valley continues to grow, along with traffic to our Spokane Valley and South Valley offices,” said Ezra Eckhardt, President and CEO of STCU, in the press release. “Although the use of online banking and our mobile app has increased significantly during the pandemic, our members of all ages continue to appreciate the personal service provided by an STCU representative.”

The credit union bought the 2.5 hectare property in Argonne in 2012. Before that, she opened the Argonne Home Loan Center on part of the land in 2018. The new branch has five lanes for access to counters and ATMs.

The CDFCU merger, which has been in various phases for a year, is expected to be completed by October 1, said STCU spokesman Dan Hansen.

As a result of the deal, around 14,400 CDFCU members will be transferred to the STCU group. From the beginning of September, communities cared for by CDFCU will see STCU news on billboards and local media.

The merging of the two staffs and the transfer of the technical data has already begun, which should be completed by October 1st. The branches will reopen on October 4th under the banner of the STCU.

“Preparing for the merger was a big project with thousands of details,” said Colleen Manley, CEO of CDFCU. “The two teams worked well together and have the common goal of making the transition as smooth as possible for our members.”

As part of the merger, STCU will keep employees from CDFCU. The deal was previously approved by state and federal regulators and with the unanimous votes of the boards of both credit unions, Hansen said.

The merger was also approved by a majority of CDFCU members who will lose access to their accounts on September 30th.

They will then be instructed to activate their new STCU debit cards and use them, according to the press release on October 1st.

“This is a natural addition to a friendly, beneficial merger,” said Eckhardt. “Although the name will be different, the care and dedication that have won the trust of CDFCU members remain unchanged.”