Newrizons Federal Credit Union, based in Hoquiam, WA has become the latest stockholder of CU*NorthWest. With over 1300 members, the $9.8M credit union is the 16th owner of the 100% credit union owned CUSO. Ynette Gibbs, CEO of Newrizons FCU attributes much of their success to CU*NorthWest. “Newrizons is thriving. We’ve had phenomenal membership growth and been able to provide really innovative products and services,” said Gibbs, “One reason is CU*NorthWest’s software (CU*BASE ®), customer service, and forward thinking that has supported us”.
CU*NorthWest’s cooperative business design allows for ownership opportunity to all CU*BASE users and instills a one-owner one-vote policy, mirroring the credit union governance model. Gibbs added, “Buying a share of CU*NorthWest is an investment to continue our own future success”. Along with the inherent advantages to ownership, a key motivating factor for owners is to actively participate in leading the direction of CU*NorthWest and CU*BASE ®.
The stock value of CU*NorthWest has continually appreciated since its’ inception in 2005 and in June 2012, CU*NorthWest paid its’ first dividend to stockholders.