Planned Merger

Growing Together

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Planned Merger Information

* This page will continually update as information becomes available

 

08/05/22
The boards of Pacific Crest Federal Credit Union and Klamath Public Employees Federal Credit Union have recently voted and passed resolutions of intent to merge. 

As member-owned cooperatives, both Pacific Crest FCU and Klamath Public Employees FCU exist to serve our members.  Joining forces is a step forward for our members and our region.  As the only two financial institutions headquartered in Klamath County, this strategic partnership will allow us to better serve the needs of the Klamath Basin and the surrounding area.

Our two Credit Unions already enjoy a cooperative relationship and a common culture, wholeheartedly embracing the credit union philosophy of people helping people.  This merger is about doing what is best for our members and assuring that our region continues to have local decisions made by local people who live and work here.  Our members will continue to be able to walk into a branch and talk with the same people they know and trust.

Under the planned merger, members of both credit unions will benefit from an anticipated expansion of services and an expanded number of branch locations with the branches of both organizations remaining open after the merger.  The merger will be subject to a lengthy regulatory process including a vote by KPEFCU members.  We will do our best to keep all members informed about the planned merger as more information becomes available.

 

 

Frequently Asked Questions

Pacific Crest FCU and Klamath Public Employees FCU share a similar culture, mission, and membership base.  We’ve both been headquartered in Klamath County for many years (Klamath Public Employees since 1949 and Pacific Crest since 1936) and we enjoy a cooperative working relationship.  Combining our resources and energy will create more efficiency and greater value for all our members.  We anticipate that members will benefit from an expansion of products, services, and convenient branch locations.

We plan to keep all branches operating as usual.  Our goal is to retain all employees from both Credit Unions.  Members will likely see the same familiar faces at every branch location.

Our goal is to retain all employees from both Credit Unions.  We plan to keep all branches operating as usual.  Members will likely see the same familiar faces at every branch location.

After the planned merger, the combined Credit Union will operate as Pacific Crest Federal Credit Union.  Klamath Public Employees will do business as Klamath Public Employees Federal Credit Union, a division of Pacific Crest Federal Credit Union.

Not yet, but we’re working hard to make it happen!  We will provide plenty of communication as the ability to use all branches becomes available.

All of your accounts will operate as usual throughout the merger.  If any changes are necessary in the future, we will do our absolute best to make things convenient for you.  We’ll communicate any possible changes well in advance.

There will be no effect on your accounts or account numbers at this time.  Regardless of the merger, Klamath Public Employees FCU will need to convert to a new core operating system in 2023 or 2024.  As that time approaches, the Credit Union will work hard to ensure a seamless transition.  Important dates, changes and any action needed from you will be communicated well ahead of time.  Our goal is for you to continue to conduct business with as few disruptions as possible.

Your loan(s) will continue to function the same.  Your original loan agreement with Pacific Crest or Klamath Public Employees will be honored with no changes.

Under the planned merger, rates on fixed-rate loans and certificates will remain the same until the end of their existing terms.  Other products will adjust with market conditions as usual.

No action is needed from you at this time.  There is a long process ahead, and if any action is required we will make it as convenient as possible.  We will send out communication as the planned merger progresses.  Check mypcfcu.org/growingtogether for the latest updates.

The boards of both Credit Unions have voted in favor of moving forward with the plan.  The leadership teams at both Credit Unions are 100% on board with the planned merger.  The merger will require a lengthy review and approval by the NCUA.  The merger will then need to be approved by the voting membership of Klamath Public Employees FCU.

For more information

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