LIBERTY LAKE, Wash.–STCU is celebrating the opening of its 50th branch location.
STCU said the new Columbia Center Branch will be led by Community Branch Manager Melissa Venegas. The stand-alone building is a former bank branch that was vacant and “gathering tumbleweeds” when purchased by STCU earlier this year. Since then, it’s received significant upgrades, the credit union said.
“The achievement comes as many financial institutions are closing branches, particularly in rural communities and underserved neighborhoods,” the credit union said in a statement. “So far this decade, banks nationwide have closed more than 7,000 branch locations. In that same period, STCU has more than doubled its branch network.”
‘Fundamental to Experience’
While tens of thousands of STCU members access their accounts through online banking and the STCU mobile app, STCU President and CEO Lindsey Myhre said, “Visiting a branch is fundamental to the member experience and key to our culture and success. We love meeting our members in person.”
The $6.3-billion STCU noted that for its first 30 years it had no home of its own. Instead, from 1934-1964, it operated from a second-floor classroom in Spokane’s Lewis & Clark High School. Twenty-three years later, STCU opened its second branch.
“And even when Myhre started her career in 2000, the credit union had only six branches—all but one in Spokane County,” STCU stated.
In recent years, STCU said it has used mergers and branch acquisitions to efficiently grow its network and serve new and existing members throughout the region.
“A significant added benefit is gaining valued employees who know their communities well,” according to STCU.
Bank Branches Added
Earlier this year, STCU completed its acquisition of Community Bank, gaining seven Eastern Oregon branches and three in southeastern Washington.
Similarly, in 2021, STCU merged with another credit union, CDFCU, acquiring its knowledgeable employees, loyal members and five branches in north-central Washington.
“Growth provides us with the resources to better serve members through improved technology, more physical locations, and expanded products and services,” Myhre said in a statement. “It gives us more opportunities to support communities and spread our ‘Here for good’ philosophy into new areas.”
Growth Indicators
According to STCU, indicators of its growth include some major 2025 milestones:
• More than 300,000 members, more than 1,000 employees, and more than $6 billion in total assets.
• Its STCU Here for Good Foundation reached $1 million in grants funded since it was established in 2023.
• Myhre becomes STCU’s sixth president and CEO—the first woman to hold the title.
