Despite Some Pushback in Social Media, Members of WA’s CALCOE FCU OK Merger into Idaho Central

YAKIMA, Wash.—While there was some pushback voiced in social media, members of $43.5–million CALCOE Federal Credit Union here have voted in favor of merging into the $14.75-billion Idaho Central Credit Union. The deal includes a payout to CFCU’s CEO.

The two credit unions are approximately 580 miles apart. 

In a statement to members on its website ahead of the merger vote, which redirects to Idaho Central’s website, CALCOE FCU shared with members what it said would be the benefit of the merger.

“CCU and CALCOE have a shared culture of serving our membership and communities,” the credit union said. “By merging the two credit unions, we will reinforce our mission, maintain local staff, increase community investment, and bring a broader range of financial products and services to our members. This agreement will also provide greater opportunities for our team members, including competitive salaries and benefits, industry-leading technology, and increased professional growth and development.”

The Financials

Both credit unions are profitable. Idaho Central closed 2025 with $144.4 million in net income and with net worth of 8.13%. CALCOE FCU finished the year with $269,293 in net income and with net worth of 12.21%.

Some Pushback

On his Facebook page, a post by Brandon Roman for the MOXIE Community Group raised objections to the merger ahead of the vote. 

“If you bank at CALCOE please get ready to vote as they are trying to merge with a different credit union. VOTE NO ON THE ICCU MERGER],” the post read.

It cited several reasons for opposing the combination, including:

• “No Direct Financial Benefit to Members. Members receive no payout or distribution of CALCOE’s accumulated net worth. Net worth built by members over decades transfers entirely to ICCU.”
• “Executive Compensation Shows Who Truly Benefits. While members receive no financial benefit, only one person is guaranteed to financially benefit from this merger: CALCOE CEO Leslie Johnson. Disclosed compensation tied to the merger includes: Two retention bonuses of $13,600 each; A salary increase to $136,000; A long-term split-dollar benefit that could provide $30,000 per year for up to 20 years. No other member receives anything comparable. This creates a clear conflict of interest and raises serious concerns about whether the merger recommendation is driven by member benefit or personal gain.”
• “Loss of Local Control. CALCOE is a locally governed Yakima Valley credit union. After the merger, decisions will be made by a large, out‑of‑area institution. Local accountability and member influence are lost permanently.”
• “Higher Fees & More Complex Policies Likely. CALCOE historically operates with lower minimums and fewer fees. Large credit unions typically bring: Higher minimum balances. More service fees. Less flexibility for members.”
• “CALCOE Is Financially Healthy. CALCOE has a higher net worth ratio than ICCU. This is not a bailout or emergency merger. A healthy credit union should explore alternatives before surrendering independence.”
• “Technology Does Not Require a Merger. Modern banking tools are widely available through vendors and partnerships. Many independent credit unions successfully upgrade technology without merging. Losing local control is an extreme price to pay for services already available elsewhere.”
• Permanent Decision. Once CALCOE is merged, it ceases to exist forever. Members cannot undo the decision if fees rise or service declines.”

Earlier Merger

Idaho Central has previously reached across state lines in mergers. In 2025, it merged in Tucson Old Pueblo Credit Union. It also has a presence in the Tri Cities in Washington State.