About Laneco FCU
Laneco Federal Credit Union, established in 1958, has built a reputation for its commitment to providing personalized financial solutions and security for its members. In September 2000, Laneco merged with Champion International Federal Credit Union, broadening its membership to include 1400 new individuals. Beyond its banking services, Laneco FCU actively engages in community initiatives, sponsoring local events and investing in charitable causes that benefit Lane County residents. Through a charter change in September 2016, Laneco FCU expanded its membership to welcome Lane County residents, reinforcing its dedication to community engagement and making a positive impact in the region.
Complementary Synergies
By uniting, we leverage the complementary synergies between our two esteemed institutions. This integration brings together CWCU’s wide array of banking products and services and deep community commitment with Laneco FCU’s history and community roots. We are enthusiastic about the new capabilities and financial solutions that will become available to our expanded member base.
Operational Excellence and Fiscal Stability
The merger fortifies our operational management through combined efficiencies and expertise. The combined organizations will benefit with continuing sound fiscal management and stability, ensuring that our members enjoy sustained and enhanced financial services. Our united effort will also reinforce relationships with independent auditors and financial regulators, ensuring compliance and trust in our operations for the combined entity.
Enhanced Community Investment
Together, we will continue to invest in the communities we serve, particularly in Eugene, nurturing the legacy of both credit unions. This partnership allows us to allocate additional resources towards community investments and philanthropic activities, reinforcing our role as a pillar of community support.
Respecting Our Heritage
As we blend the legacies of CWCU and Laneco FCU, we are dedicated to preserving the rich history and unique identity of both organizations. The merger results in a stronger balance sheet and a larger collective membership, which translates to greater opportunities and benefits for our members.
Commitment to Our Teams
We are proud to retain the talented Laneco FCU employee team and maintain the Laneco FCU branch in Eugene, Oregon. The merger equips the Laneco FCU team with best-in-class technology, alongside training and development opportunities that will empower our staff to deliver superior service.
Stakeholder Engagement
We assure all stakeholders — Laneco members, board members, vendors, Eugene government officials, and community-based organizations — that their interests remain at the forefront of this transition. Open communication channels, including press releases, social media updates, and a dedicated section on the CWCU website, will keep all parties informed and engaged throughout the merger process.
In summary, this merger is a strategic evolution designed to fortify our commitment to our members, employees, and communities. It ensures that we continue to provide top-tier financial products and services while maintaining the personal touch and local understanding that our members value. We look forward to a future that is brighter for all, as we grow stronger together.
The merger is aimed at enhancing our collective strength, expanding our service offerings, and providing our members with a more extensive network of resources and financial solutions.
As a member, at this time, you will gain access to an additional branch in Eugene and Laneco members can obtain a wider variety of financial products and services, and the combined expertise of both credit unions to serve your financial needs better.
The merger is anticipated to close on July 1, 2024. After closing we will begin converting Laneco to Central Willamette systems which is a process that will take several months to complete.
System migration is scheduled for the fourth quarter of 2024. Once the systems have been updated post-merger, you will be able to conduct your business at the Eugene branch.
As a result of the merger, there will be no modifications to accounts, loans, or rates. Nonetheless, we will continue to update accounts and rates as needed and will ensure to notify you in advance of any changes, just as we have always done in the past.
Yes, your deposits remain insured by the National Credit Union Administration (NCUA) up to the standard maximum limit, of $250,000.
Currently, there are no plans to close any branches. In fact, you will now have access to the Laneco branch located in Eugene.
We value our team members highly and anticipate that the merger will provide more opportunities and resources for them. They will continue to serve you with the same dedication as before.
Access to CWCU Online banking services will continue as normal.
Regular updates will be provided via email, our official website, and notices in our branches. We encourage you to keep your contact information up to date.
For any additional questions or concerns, please reach out to our member service team at (541) 928-4536, toll free (866) 950-4536 or visit your nearest branch for personal assistance.