Pioneer Federal Credit Union merges with Cornerstone Credit Union of Caldwell
MOUNTAIN HOME, ID (June 8, 2016) — Pioneer Federal Credit Union has successfully completed a merger with Cornerstone Credit Union of Caldwell, ID. The merger was approved by the National Credit Union Administration and the Idaho Department of Finance and became effective on June 1st, 2016. The company released in a memo to its members describing why the two credit unions were the perfect match. It read, “Because of our similar philosophies and shared cooperative values, Cornerstone Credit Union and Pioneer FCU are in a unique position to merge organizations founded on excellence and trust.”
As part of the merger, Pioneer FCU has acquired the Cornerstone Credit Union branch located at 416 S. Kimball Avenue in Caldwell. This location will transition to become the 14th Pioneer FCU branch.
“We were interested [in the merger] because we wanted Cornerstone members to stay with an Idaho credit union and we felt both sides had a lot to offer the other,” said Curt Perry, President and CEO of Pioneer FCU. “We had already purchased land to open a Caldwell branch and Cornerstone was looking for a merger partner that would continue to serve their 4,000 members as they had. Caldwell customers that were previously Cornerstone CU members will have more access to products and services that didn’t exist for them before such as one of the highest rated mobile banking apps in the state of Idaho, mobile check deposit and 14 local Idaho branches to serve them,” Perry said.
The 15th full service branch, which will be located near the intersection of 10th Ave & Ustick Ave. in Caldwell, will open in late 2016. The new high-tech branch will feature Personal Teller Machines (PTMs)—drive-up ATMs that offer a live teller via video call during extended banking hours. “We’re the first financial institution in Idaho to implement this technology,” explained Tracey Newberry, Vice President of Branch Operations for Pioneer Federal Credit Union. Once constructed, the new branch’s banking hours will be 7 AM – 7 PM Monday through Friday and 9 AM – 2 PM on Saturday.
The new Caldwell branch will be modeled after Pioneer FCU’s Boise branch located on Broadway Avenue, which received a national Credit Union National Association award for branch design in 2015 for the innovative integration of technology. Inside the Boise (Broadway Ave.) branch, an interactive video board allows visitors to learn about credit union products, search for branch locations, and test their knowledge with financial quizzes. Members can even access their accounts on their mobile device through fingerprint and eye-scan verification. “These additions reflect our commitment to technology and serving our members in the way that works best for them,” said Newberry.
The company will hold a ribbon cutting and grand re-opening event at the newest Pioneer FCU branch acquired through the merger at 416 S. Kimball Avenue in Caldwell on Friday, July 22nd from 9:30 AM to 2 PM. All community members are encouraged to attend this fun event and experience the excellent services that Pioneer FCU offers.
About Pioneer Federal Credit Union
Pioneer FCU was chartered as the Civilian Employees Federal Credit Union in March of 1954. Since that time, Pioneer FCU has grown in size and number with a commitment to the credit union philosophy of “People Helping People.” The merger will help further the progression of the credit union and provide a means for its many members to move their money forward®.