Members to vote on credit union fate Monday

In its 80th year, Coulee Dam Federal Credit Union is in the process of merging with a larger credit union, a process that has been repeated across the country many times over the last couple years.

A special members’ meeting is set for next Monday evening at CDFCU’s Coulee Dam headquarters.

Members are already voting online and by mail — 955 times as of Monday, CEO Colleen Manley said. Voting for CDFCU’s 11,788 eligible members has been open since the end of April.

The boards of directors of both CDFCU and Spokane Teachers Credit Union already voted to proceed with a merger if members agree.

Manley said the vote that wraps up Monday night will cinch the agreement if a majority of the members who vote agree with their board members that the move would benefit members and employees.

That’s required by the National Credit Union Association.

The meeting, which starts at 5:30 p.m., will either be held in the main lobby or on the front patio, depending on weather, Manley said. Social distancing will be required, and unvaccinated people are expected to wear a mask.

CDFCU board members, Manley, and STCU, CEO Ezra Eckhart will be at the meeting.

Members who have not voted can cast their vote at the meeting electronically, Manley said, with support available for those unsure of the technology.

Manley said employees she has talked to have been supportive of the move. They see more opportunities possible with the larger credit union, “and just the fact they all have jobs” with STCU.

“Main thing is that all my employees get taken care of,” Manley said, “and that all of the members are taken care of.”