» SOFCU-Oregon First Merger Approved

On August 31, 2011, the proposed merger between SOFCU and Oregon First Community Credit Union was approved. Our thanks to the SOFCU membership for their votes in support of this new alliance. This strategic consolidation of the two credit unions creates an even stronger financial institution to better serve the combined membership. Both SOFCU and Oregon First will now operate as “affiliates of First Community Credit Union”.

As a merger of equals, the leadership of First Community Credit Union will be shared to create a cohesive vision and mission of both credit unions. President/CEO of Oregon First Community Credit Union, David Elmer will continue as President/CEO of the new organization, First Community Credit Union. Charla Zeltvay will continue her role as President/CEO of SOFCU until her planned retirement date of February 28, 2012.
Brian Menefee, current Chairman of the Board of Directors of SOFCU, will be the new Chairman of the Board of Directors of First Community Credit Union, September 1, 2011. Frank Sproul, of Oregon First Community Credit Union will preside as Vice-Chairman of the Board of Directors; Mary Ellen Robbins, Oregon First Community Credit Union will serve as Board Secretary, and Elizabeth Davis of SOFCU will serve as Board Treasurer. Other officials to join the First Community Credit Union Board of Directors and/or Supervisory Committee from SOFCU are, Elizabeth Gooch, Shaun Hoback, Howard McCusker, Gerald Theis, June Chadbourne, Harvey Denney, Richard Powell, Barbara Miller, and Joan Bentley. Officials to join the First Community Credit Union Board of Directors and/or Supervisory Committee from Oregon First are, Dennis Erickson, Dan Gibson, Robin McAlpin, Hall Thomas, Linda Furman-Grile, Jerry Prickett, Pat Kerkow, Leslie Weimer, Steve Mohrland, Greg Holden, Carla Blanton and Dennis Mateski.

A few of the numerous benefits the merger will provide now and in the future are, expanded products and services to our members, a network of 30 branch locations, a collaborative Board of Directors and Supervisory Committee members and greater career opportunities for employees of both institutions.

For more details on the merger and how it will benefit you, read our FAQs.

SOFCU and Oregon First History

SOFCU was chartered in 1953 as the Josephine County Teachers Credit Union and served employees of the Josephine County School District. In 1963, SOFCU became Southern Oregon Federal Credit Union and in 1973 expanded its charter to serve anyone who lived or worked in Josephine County or western Jackson County. In the last decade, SOFCU expanded its service area to include Douglas County and parts of Coos and Lane counties, merged in Umpqua FCU of the Roseburg area, and Highland Community FCU serving Klamath and Deschutes counties.

SOFCU changed to a State charter in 2004 and changed its name to SOFCU Community Credit Union, serving people who work or live in Josephine, Jackson, Klamath, Deschutes, Coos, Douglas, and Lane counties. With 34 thousand members and $285 million in total assets, SOFCU operates full service branches in Grants Pass (2), Cave Junction, Rogue River, Medford, Roseburg, Klamath Falls, Bend, Creswell, and North Bend.

Oregon First was chartered in 1957 as Coos Curry Teachers Federal Credit Union and served school employees in Coos, Curry, and western Douglas counties. Forty years later, its charter was expanded to serve portions of several other communities and in 1998, changed its name to Oregon Federal Credit Union. In 2004, it converted to a State charter, expanded its field of membership to several other Oregon counties, and changed its official name to First Community Credit Union while operating under the name of Oregon First Community Credit Union, its assumed business name.

Since 2004, Oregon First has been joined by Washco CCU, Cascade View CCU, and Schools Plus CCU, contributing significantly to its current total assets of $412 million. Oregon First has 37 thousand members and operates 21 branches from the southern Oregon coast up to the Portland metro area and over east as far as Milton-Freewater.

Merger FAQ's >>>