FAQ

Due to the ever-changing landscape of the financial services market, the Board of Directors and management of both credit unions thought this was the best path to continue meeting the financial needs of our members. Together, our organizations will continue to grow and evolve, helping us market to our community, implement new technologies and provide operational and administrative guidance. This support will ultimately translate into a deeper product and service mix for our membership.

This merger also marks the start of a new chapter for Shirley Cate, PFCU President and CEO, as she will be retiring upon completion of the merger. Congratulations, Shirley!

Larry Ellifritz, President and CEO of CCCU, will become the President and CEO of the combined organization.

This is a very positive event for both our credit unions, and our Board and management teams are excited to watch the evolution of the new combined organization.

They are a full-service credit union that was originally chartered in 1954 to serve the employees of Consolidated Freightways.  Today, anyone who lives, works, worships, owns a business, or goes to school in either Multnomah, Washington, Clackamas, Columbia, Hood River, Yamhill, Clark, or Skamania counties is eligible to join CCCU. Potential members across the country can also join through our association membership program. We encourage you to visit their website at www.consolidatedccu.com to learn more about the credit union and the products and services they offer.

CCCU was originally formed by the employees of Consolidated Freightways in 1954. Now they serve over 20,000 members and have over $490 million in assets, serving members in all 50 states.

CCCU’s alignment with our credit union’s culture is a testament to our shared commitment to member service. Their dedication is reflected in the extensive range of top-notch products and services they offer. What’s more, our collaboration has expanded member access to a vast network of physical branches nationwide, ensuring convenience in financial transactions through CO-OP Shared Branching (Click Here to find a Shared Branch Location near you). Our 12-year partnership with CCCU has been incredibly fruitful, particularly in supporting our employees and members with their residential and commercial real estate financing needs. This synergy has not only strengthened our operations but also reinforced our mission to serve our community with excellence.

Yes, CCCU was ranked in the Top 100 for top-performing credit unions in the United States by S&P Global Market Intelligence. They rank at number 47 overall and number 2 in Oregon for financial stability.

Our merger with CCCU will bring new financial products like Apex Checking and Mega Money Market, a new digital banking platform with Zelle® integration, and more access to in-person banking through Shared Branching and the existing CCCU and PFCU branches.

Leading up to our June 2, 2025 conversation, it’s important to note some disruptions to our Bill Pay and Digital Banking services taking place between May 22 – June 2. We encourage you to read through our Merger Guide PDF for the full details, as well as consult the Conversion Timeline and Action Items, all found on our Merger Hub, to better prepare yourself for these changes.

Rest assured, any automatic deposits and withdrawals using your account number will continue to process as usual, with no additional action needed from you.

The PFCU branch at Providence St. Vincent Medical Center, the ITM at the Providence Portland Medical Center and the branch in San Diego in UDW will remain open.

Our doors at the PFCU Administrative Office in Milwaukie, OR will officially close at the end of day Friday, May 30, 2025. Our headquarters will move to the CCCU headquarters in NE Portland on Monday, June 2, 2025. 

If you have an account open at each credit union, your PFCU account will move over to CCCU resulting in two separate accounts, which is anticipated to be in June 2025.

The merger of a credit union is a significant event that often brings about a wave of change, but one of the most positive outcomes is the retention of all employees. This decision reflects a commitment to staff continuity and stability, which can be incredibly reassuring for the workforce. It means that the employees can look forward to being part of the new, larger entity, bringing their valuable experience and knowledge to the table.

Yes, CCCU is federally insured by the National Credit Union Administration (NCUA) just like our credit union and you will continue to have the same share insurance up to $250,000.

Yes, your input is incredibly valuable during the merger process between credit unions. It’s a time of significant change and your voice matters. Both credit unions will be hosting a special membership meeting to answer any questions our members might have regarding the merger. During this process, each eligible PFCU member will have the opportunity to cast their vote to determine the outcome of the merger.

About a year. The goal is to have all PFCU members migrated to CCCU’s systems by mid-2025.

To stay informed about the merger, please visit our dedicated Hub at providencecu.org/merger for the latest updates. This resource is designed to provide you with all the necessary information, including timelines, changes to services, and any actions you may need to take. It’s a one-stop-shop for all merger-related news, ensuring you’re always in the know as we move forward with this exciting transition.

Apex Checking is a high-yield checking on balances up to $20,000, with no minimum balance required.

Apex Checking allows you to maximize your money with a few account requirements:

• Set up Direct Deposit
• Sign up for eStatements
• Login to Online Banking at least once per month
• Make at least 10 debit card transactions per month

Visit our Apex Checking page for rates and more information:

*APY (ANNUAL PERCENTAGE YIELD). To receive the higher dividend rate for Apex Checking, the account must be enrolled in eStatements, must have a payroll, social security, or pension direct deposit each month, at least one log-in to online banking each month and a minimum of 10 debit transactions each month (ATM transactions do not count toward the debit card requirements). The 10 debit transactions must be posted to the account prior to the last business day of each month regardless of when the transaction was conducted. Application is subject to approval. See credit union Rate and Fee Schedule for more details.

Mega Money Market is high-dividend Money Market Savings Account. Mega Money Market is free from fees, easy to access, and earns returns higher than a certificate or traditional savings account.

Visit our Mega Money Market page for rates and more information:

*APY (ANNUAL PERCENTAGE YIELD). The APY may change after account opening. Minimum amount to open a Money Market account is $2,500. Minimum amount to open a Mega Money Market account is $100,000. Account qualifications apply. See credit union Rate and Fee Schedule for more details.