Movers & Shakers May 15, 2010
SECU, Numerica merge
School Employees Federal Credit Union (SECU) membership approved a plan to merge with Numerica Credit Union by an overwhelming majority, 87 percent of those voting.
In March, SECU's board unanimously voted to adopt a resolution to merge SECU with Numerica. The vote was then put to the SECU membership and finalized at a special meeting on May 6. Regulatory approval was also obtained from the State of Washington and the National Credit Union Administration in March.
"We were very pleased that our membership supported this proposal," said Eldon Ladd, SECU's chief executive officer. "We believe that service to the members is of utmost importance. Numerica has an excellent reputation in the Tri-Cities area."
Numerica became a part of the Tri-Cities community in 2004 when it opened a branch in Kennewick. It now has two branches in Kennewick and Pasco that SECU members can use.
Both institutions have a long history, with SECU beginning in 1960 and Numerica/Great Northern Employees beginning in 1937.
The board of SECU, with assets totaling $12 million, believes that a consolidation with Numerica offers the ability to better serve their current 3,000 members within the Tri-Cities area because its members will benefit from the enhanced products, services, and delivery channels offered by Numerica.
"We couldn't be more pleased," said Dennis Cutter, president and chief executive officer of Numerica. "Our mission has always been, and will continue to be, to provide the best financial products and services to our members, and we are thrilled to have the opportunity to expand that to the SECU members."
The merger is effective May 31, at which time the two credit unions will begin the process of consolidation of data systems and other records. Completion is expected in August of 2010.
Numerica Credit Union currently has more than 80,000 members throughout central and eastern Washington and North Idaho and $997 million in assets.
Paper tax returns going away for e-filers
Retailers and others who routinely file their Idaho sales and use tax returns electronically will no longer receive paper returns from the Idaho Tax Commission.
Businesses that have e-filed their Idaho sales and use or sales-related tax returns for at least six consecutive months (or two consecutive quarters), won't receive paper returns in the mail.
To help them remember when to e-file, they can get a schedule of 2010 filing due dates in the "Quick Picks" section of the Tax Commission website at tax.idaho.gov.
"This change will save the state more than $22,000 a year in mailing and printing costs," said Dan John, tax policy supervisor. "It will also reduce the amount of paper we use."
For more information, call the Tax Commission at 334-7660 in the Boise area or (800) 972-7660 toll free.
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