Vocality Credit Union to Host Town Hall on Merger with Community First

Vocality Community Credit Union (VCCU) and Community First Credit Union (CFCU) have announced their intent to merge, combining their resources to create a stronger financial cooperative expected to serve over 70,000 members through 12 branches.

The decision to merge comes as VCCU’s local community has faced significant economic challenges in recent years, particularly due to the legalization of cannabis. As VCCU CEO Pat Neighbors explains, the impact of the cannabis industry was not fully understood at first. “I don’t think any of us really understood the depth and breadth that the cannabis industry actually lent to our county as a whole,” said Neighbors. “I don’t think any of us really recognize the value of the dollars that our cannabis industry were bringing into our establishments, our financial institutions, our county coffers.” This event led to a crash in the cannabis industry and substantial economic turmoil for the region.

Recognizing the need to be proactive, VCCU’s board set key criteria for selecting a merger partner, including the retention of the Garberville branch and job security for staff. Community First Credit Union emerged as the ideal partner, offering the stability and resources VCCU was seeking. Pending regulatory and membership approvals, the merger aims to enhance operational efficiencies, expand services, and strengthen community impact under the Community First Credit Union name.

VCCU is hosting a town hall meeting for members on December 4th at the Mateel Community Center, where the CEO of Community First Credit Union will also be present. Members are encouraged to submit questions in advance. With regulatory approval pending, the merger between VCCU and CFCU is expected to be completed in 2025.

Under the Community First name, the combined organization will serve members across 12 branches, led by CFCU’s Scott Johnson as CEO and VCCU’s Pat Neighbors as Chief Strategy Officer. This partnership aims to enhance operational efficiencies, expand services, and strengthen community impact as the region continues to navigate the economic challenges.