Frequently Asked Questions
Recently, the boards of both Great Basin FCU and Reno City Employees FCU have approved the merging of the two credit unions. Please read below for more information on what this means for you!
Both credit unions hold similar values. We love our local community, and we are passionate about giving exceptional service to our member-owners.
Remaining competitive with larger financial institutions can prove to be a challenge for small credit unions. Although Reno City EFCU is financially healthy and stable, the credit union’s Board of Directors recognized the need to provide members with an expanded selection of products and services that are just not cost-effective for a smaller institution.
Great Basin has a long history of providing relevant and simple technological banking solutions to it’s members and has strong brand recognition among the community. Therefore, the boards of both credit unions recognized that a combined organization will bring much greater strength and competitive advantages for both memberships moving forward so we can better serve our members and our communities.
Great Basin FCU will remain the surviving credit union. Current Great Basin members will see no changes to their accounts or account numbers.
Reno City EFCU members will receive new account numbers. We will provide more information on this at a later date.
Current Great Basin members will not need new debit or credit cards.
Current Reno CityEFCU will receive new Great Basin-branded Visa® debit and credit cards at a later date, but well in advance of the account conversion to Great Basin FCU systems
While Great Basin FCU is the surviving credit union, the merging of the two organizations will place us in an even stronger financial position now and in the future due to the accounts and loans that will be brought over from Reno City Employees FCU.
The economies of scale give us more leverage to invest in even better products and services to make your life SIMPLER.
Reno City EFCU is merging with Great Basin because both credit unions hold similar values and are similarly structured. The boards of both credit unions approved this partnership due to the benefits that will result from both an operational and member-service perspective.
Merging with Great Basin FCU will give Reno City EFCU members greater access to improved technological services and remote banking solutions.
Following the merger, your account and routing number(s) will change. As a result, any automatic payments or Bill Pay transactions may need to be updated. We will strive to make this transition as simple as possible for you and will provide more detailed information on dates when they are known.
We will NOT automatically combine your accounts. If you request that we combine your accounts, we will happily accommodate that and make it simple for you.
Great Basin Federal Credit Union will be the combined name following the merger.
Current Great Basin FCU CEO, Jennifer Denoo, will remain the CEO. Jennifer celebrates her 30-year anniversary with Great Basin FCU this year. She is passionate about our community and the mission of the credit unions. She is accessible and approachable, and she looks forward to meeting you.
Absolutely. Deposits for members of both credit unions remain federally insured up to $250,000.
In fact, Great Basin accounts are protected up to an additional $250,000 with Excess Share Insurance (ESI). Meaning deposits for Great Basin members are insured up to a total of $500,000!
All Reno City EFCU will be offered positions within Great Basin FCU. Because Great Basin FCU has more specialized departments, the Reno City EFCU employees will have added opportunities to grow professionally.
No. Current Reno CityEFCU members will automatically become members of Great Basin following the merger. Great Basin FCU currently offers membership to those who live, work, worship, attend school, or own a business in select counties in Northern Nevada and The Treasure Valley, Idaho.
Finalizing the merger will take some time and there are a few milestone events that you should be aware of.
- First, we must receive merger approval from our regulator, the NCUA.
- Then, the members of Reno City EFCU must hold a special meeting to vote on and approve the merging of the two credit unions.
- If both of these are approved, the process of merging begins.
We will provide more detailed timelines at a later date.
As always, we are here to serve you and are happy to answer any questions you may have. If you have any questions, comments, or concerns surrounding this merger, you can reach out to our President/CEO, Jennifer Denoo via email at [email protected].
Reno City Employees FCU members are also encouraged to reach out to their CEO, Valerie Johnston at [email protected].