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Pioneer Federal Credit Union merges with Cornerstone Credit Union

Posted on June 6, 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 company’s 15th full service branch will be located near Ellen’s Ferry and State St. in Boise. Following its opening, Pioneer’s 16th full service branch will be located near the intersection of 10th Ave & Ustick Ave. in Caldwell. Both are slated to open in late 2016.  The new high-tech branches 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.

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