Merger | Woodstone Credit Union | Federal Way Washington

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Our Merger with Qualstar Credit Union

We are currently working “behind the scenes” on the merger, with nothing affecting members directly at this point. Additional updates will be provided in early 2018 – keep checking back here for next steps and new details about the merger.

We are pleased to announce that Woodstone Credit Union members have voted by an overwhelming majority to merge Woodstone with Qualstar Credit Union. Of the 899 valid returned ballots, 85% were in favor of merging. Feedback from members during the voting period was primarily positive, focusing on Qualstar's larger branch network and their eagerness to retain Woodstone's Federal Way employees and branch.

While Woodstone takes pride in offering the products, value, service, and convenience our members expect, we heard your requests for greater access to your credit union accounts through more branches, the credit union shared branching network, and the latest technology. That’s why Woodstone’s Board of Directors proposed merging with Qualstar Credit Union. While a number of credit unions were considered, Qualstar was selected based on breadth of service, increased access for members, financial strength and cultural alignment.

More branches, mobile deposit and bill pay, shared branching, and more

Merging with Qualstar enables us to bring you increased account access and more products much more quickly than we could alone. You will be able to continue using our existing Federal Way branch while we work to bring you these additional benefits:

  • Expanded branch network, with the addition of six Qualstar branches, located throughout King, Pierce, and Snohomish Counties. 
  • A 24/7 call center, online account opening, mobile bill payment, and mobile deposit (remote deposit capture), enabling you to conduct all your credit union business from your smartphone. 
  • Participation in CO-OP shared branching, allowing you to bank at more than 5,000 credit union branches across the country.
  • VISA rewards credit cards, youth and teen checking accounts, member business loans, and in-house mortgage services.

What's Next?

While the legal merger of Woodstone and Qualstar will take approximately one month to complete, members won’t see material changes until Woodstone’s computer systems are integrated with Qualstar’s in early-April 2018.

Merger Timeline

August 2017

  • Effective date of the merger of Woodstone and Qualstar Credit Unions
  • Qualstar assumes management of Woodstone’s branch and employees

Fall 2017

  • Alignment of Woodstone and Qualstar’s products and rates

April 2018

  • Woodstone members will have full access to Qualstar branches
  • Woodstone’s name will officially change to Qualstar Credit Union
  • Woodstone and Qualstar’s operating systems will be combined
  • Woodstone members will have access to:
    • Qualstar’s online banking and mobile app, including: mobile check deposit, bill paper, and online account opening
    • Qualstar’s 24/7 call center
    • CO-OP Shared Branching network

Questions?

To learn more about the merger and about Qualstar Credit Union, please consult the Frequently Asked Questions (FAQs) located on this page. If you have any further questions, please call us at 800.334.9828 or contact us online.

Why

  • Why is the Woodstone board of directors proposing a merger?

  • Why did the board of directors choose Qualstar as a merger partner?

  • Is Woodstone in financial trouble?

  • How financially secure is Qualstar Credit Union?

  • What else should I know about Qualstar Credit Union?

Going Forward

About Qualstar Credit Union

Overview

Qualstar Credit Union was chartered in 1952 to serve the Safeway grocery store employees in Washington, Alaska, Idaho, and Montana. Today, it serves over 60,000 members across Washington, providing a full menu of financial products including savings, checking, consumer loans, Visa cards, mortgage loans, member business loans, and investment advisory services. It also offers 24/7 account access through Mobile and Home Banking, both with Bill Payer and check deposit, and through the call center.

Branch Locations

Qualstar has six branches throughout the Puget Sound region:

Rates and Fees

Along with its outstanding products and services, Qualstar also offers competitive rates and fees.