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GESA ANNOUNCES MERGER PLANS

October 26, 2020

As we expand service options for Gesa and Inspirus members, downtime is scheduled this weekend to integrate our systems. Thank you for your patience through this transition.

  • Beginning Friday, October 30, at 6 pm, Xpress Digital Banking is temporarily unavailable until the morning of November 2.
  • The Member Contact Center and branch locations are closed Friday, October 30, at 6 pm through the morning of November 2.
  • Bill Pay services are temporarily unavailable from October 29 through November 4. Any payments scheduled to process during those dates will occur on Wednesday, November 4. If it’s critical that a payment process during the closure window, we recommend you consider making alternate payment arrangements.

Since our merger on August 1, 2019, Gesa and Inspirus have been working behind the scenes to bring members the “best of the best” of both credit unions. This includes ensuring that members can take full advantage of the services offered by each organization.

On November 2, we officially welcome 80,000 Inspirus members into the Gesa Family. Following our planned systems migration, they will gain access to many Gesa products and services. Gesa Members will also start to see more benefits, including access to all of the legacy Inspirus branch locations starting November 2.

We also launched new high dividend Checking and Savings options to the Gesa Membership. Check out our Savings and Checking options now available!

Through these transitions, we remain committed to supporting the educational community through donations, financial literacy, and partnerships with local organizations that make a difference through projects that support students and educators.

If you have any questions that we haven’t addressed in the frequently asked questions, please email This email address is being protected from spambots. You need JavaScript enabled to view it. or contact us by phone at 888.946.4372.

 

WHAT IS THE PURPOSE OF THIS MERGER?

The merger of these two strong credit unions will provide long-term growth and sustainability and will allow both to continue to be a strong, viable financial organization; and continue to provide more opportunities for members and employees.

WHAT DOES THIS MERGER MEAN FOR MEMBERS?

An exciting benefit of this partnership for our members will be the added convenience of two (soon to be five) service locations in western Washington and one additional location in Spokane. Additionally, the merged organization will have more resources, allowing the credit union to offer more competitive rates (lower loan rates and higher savings rates) and services, and an expanded ability to invest in new products and services as desired by our members.

Overall the combined assets of the merged organization will be approximately $3.3 billion. With twenty-three locations throughout western and eastern Washington, the combined organization will have a strong physical presence to serve the combined membership. Additionally, the combined organization will have enhanced capabilities to deliver a superior digital experience.

While nothing will change right now, once merger approvals are obtained, this partnership means we can better anticipate and meet members’ financial needs in the future.

WHAT ARE THE ADVANTAGES TO BEING A LARGER ORGANIZATION?

Becoming a larger credit union with combined assets of $3.3 billion will provide opportunities to increase efficiencies and return those savings right back to members in greater value, new technology and services, better loan and deposit rates, and higher levels of community giving.

WHAT WILL THE COMBINED ORGANIZATION’S NAME BE?

As of November 2, the combined credit unions will be known as Gesa Credit Union. Gesa and Inspirus leadership worked closely with a marketing consultant to undertake a comprehensive brand research study. After reviewing many potential names and seeking input from a wide range of stakeholders, the Board decided to retain the name Gesa Credit Union. The combined organization will continue to work on branding and identity development in the coming months while remaining committed to providing exceptional service, offering relevant products, and investing in our communities.  

WILL MY ACCOUNTS BE AFFECTED?

Gesa accounts will not be affected by the merger. Inspirus accounts will be integrated into the Gesa system and new account numbers will be issued.

WHO IS INSPIRUS CREDIT UNION?

Inspirus Credit Union is based out of Seattle, Washington. With six locations in western Washington, one location in Spokane, and nearly 80,000 members, Inspirus has been a great performer in the credit union industry. A community-based organization, with deep roots in the education sector, Inspirus has approximately 150 employees dedicated to helping improve the financial needs of their members’ lives and their communities.

WILL GESA’S COMMITMENT TO THE COMMUNITY CHANGE?

The Board of Directors and leadership teams of both organizations are committed to ensuring that the unique and important histories of both organizations are not only maintained but that the combined organization will continue to honor their roots. Inspirus and Gesa have many shared values including supporting their communities and education partners.

WILL ANY STAFF BE LAID OFF DUE TO THIS MERGER?

No employees at Inspirus or Gesa will be terminated as a result of the merger. In fact, this merger will provide additional benefits and new opportunities for employees in the combined organization.

WILL MY ACCOUNTS CONTINUE TO BE INSURED?

Yes. Member savings will continue to be Federally insured by the National Credit Union Administration.

WILL MY RATES CHANGE?

The rates on fixed rate loans or certificate of deposits (CDs) will remain the same until the end of their existing terms. As always, any CD renewals or new loans are subject to current rates which are determined by several factors including the current interest rate environment at the time of a new loan or investment.

WILL YOU CLOSE SERVICE CENTERS?

No. You can rest assured there are no plans for any service center closures. This merger will add five branches in Western Washington and one additional branch in Spokane with plans for more branches already underway.

WILL I CONTINUE TO GET THE SAME SERVICE AND ATTENTION?

Yes. Both organizations are committed to providing high levels of service for members and this will continue to be a focus for the combined organization.

WHO WILL LEAD THE NEW ORGANIZATION?

Don Miller will serve as the CEO of the merged organization. Scott Adkins, Inspirus’ CEO, will continue serving the combined organization as a senior executive. Don Miller has served as Gesa Credit Union’s CEO since 2013. He’s been with Gesa for 30+ years and has served in nearly all the different functional areas of the organization. He is a native of Ellensburg, WA and attended Central Washington University and received his MBA from Washington State University.