STCU receives regulatory approval to acquire four Umpqua bank branches in Eastern Washington

Spokane Teachers Credit Union has received regulatory approval for an acquisition of four Umpqua Bank branches in Medical Lake, Ritzville, Coulee City and Othello.

The acquisition, approved by the National Credit Union Association, the FDIC and Washington State Department of Financial Institutions this week, brings the first STCU branches to Adams, Lincoln and Grant counties, and expands the credit union’s presence on the West Plains.

STCU will spend Saturday and Sunday changing signage and making other adjustments at the four branches. ATM access will be restricted over the weekend as Umpqua ATMs are swapped out with those operated by the credit union, according to a news release.

Staffing at the four branches will remain unchanged as employees accepted positions at STCU, according to the release.

STCU’s acquisition will add more than 5,000 customers to the credit union’s membership.

The four Umpqua Bank branches were formerly part of Sterling Bank. In 2014, Umpqua acquired Sterling Bank. STCU president and CEO Ezra Eckhardt was the former president of Sterling Bank, and became chief operating officer of Sterling after the merger. He assumed the role of president and CEO of STCU in 2018.

STCU, founded in 1934, has 25 branch locations in the Spokane area, North Idaho and the Tri-Cities, in addition to the four new Eastern Washington branches. The credit union holds more than $3.8 billion in assets and has more than 210,000 members.