Canvas

Partnership centered on values

Canvas Credit Union & Western Rockies Federal Credit Union are pleased to announce the official application approval for our potential merger.

As you would expect, the process of merging two financial institutions is not one that the regulators take lightly. Both the state of Colorado and the National Credit Union Administration have approved the merger to move forward towards a vote by the members of Western Rockies Federal Credit Union. Although both organizations have been working toward this goal for months, the process has only begun.





Why now? Why Canvas?

There is a reason why we haven't seriously pursued this strategy before. We require that any potential partner is in complete alignment with our values, has a big heart for the community, and is passionately committed to the well-being of all Coloradans.

We found that credit union who meets that high standard in Canvas. Their entire leadership team shares our values. If you haven’t yet heard of Canvas, they are the third-largest credit union in the state of Colorado and have been committed to serving Coloradans for over 80 years. You might have heard of them before they re-branded from Public Service Credit Union over three years ago.

Todd and his leadership team believe in putting members, family (which is how they describe their team), and others in the community above all other things. To put it in simple terms: We simply couldn't have found a better match than Canvas.


How will this impact my accounts?

  • Your account will transition from Western Rockies FCU to Canvas. This process will not occur immediately, and we’ll keep you posted along the way. We realize change is hard, and we’ll walk with you to make it easy. We know you’ll really like the additional offerings, features, and access points that Canvas provides.
  • You will continue to access your accounts and online banking for several months and transition to Canvas' technology down the road. No change right away!
  • Your account number will likely change once the conversion is completed.

Will my money be safe?

  • Absolutely. The federal and state regulators play a critical role ensuring safety and soundness. When they reviewed our application, they assessed the financial health of both organizations and the continuing financial health of the combined organization post-merger. They stay close in order to protect members' best interests.
  • Both organizations are federally insured by the NCUA for deposits up to $250,000.
  • From a cybersecurity standpoint, Canvas Credit Union stands at the forefront of the industry. Their experienced team of information technology professionals will put your safety and security first.

Whats in it for members?

  • On the product front, the services and technology offered by Canvas are up to par with the best financial institutions in the country. Don't get me wrong, they are different, and change is difficult, but there is more to gain from a functionality perspective.
  • What we are most excited about is the ability to do more in the community. Since the Great Recession, it has been difficult to provide all the support our community desperately needs. The partnership with Canvas opens the door to doing more, much more than we could have accomplished alone.
  • There is entirely new access to 30 additional branches in the front range from Fort Collins to Castle Rock.
  • A passion for education has been at the core of who we are from the very beginning. As the official credit union of CSU, Canvas expands our reach to form a strong partnership with Colorado State University.

Whats in it for employees?

  • Canvas has committed to inviting all Western Rockies Federal Credit Union team members a role within our merged organization.
  • We always want to do more for you, our members. They are excited to bring you more value through community investment, enhanced access, and cutting-edge products. This partnership opens a new chapter and possibilities for all of us.
  • The employee benefits that come along with a large family will enhance the rewards of being a part of the credit union.
  • Employees will maintain their seniority, participate in larger retirement plan employer matches, two-percentage-point discounts on their personal loans, and access to career growth opportunities.

If you have additional questions, please use this form.


Your role

As a member owned cooperative, your vote is essential for this proposal to go through. We invite you to have your voice heard and vote on this important decision.

In accordance with its Bylaws, Western Rockies Federal Credit Union is conducting the member vote on the merger proposal through a mail ballot to the Western Rockies Federal Credit Union members. The ballot distribution, collection, custody and tabulation will be conducted entirely by an independent third-party company. 

 

A Notice of Special Meeting mailing will arrive at your mailing address on record along with a ballot for merger proposal. Please complete the ballot and return it by U.S. Mail to:


Holben Hay Lake Balzer

Attn: Western Rockies Federal Credit Union Merger

2000 S. Colorado Blvd. Tower 2 Suite 200

Denver, CO 80222 


Your mail ballot must be received by no later than midnight of the business day prior to the Special Meeting, December 30, 2021.  Mail ballots received after this date and time will not be counted. You may also cast your vote in person at the meeting.


Ready to mail in your ballot, but wondering what your member number is and where you can find it? The easiest way to find your member number is to look at the top of your statement or you can find it on the MICR line (numbers at the bottom of your checks) preceded by a three-digit number that references account type. You can also contact our Western Rockies team by phone at 877-243-2434, or stop by a branch to obtain this information.


The representative from Holben Hay Lake and Balzer is Sheila Balzer CPA, CGMA.




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