Charter Conversion
Valley First Credit Union Is Becoming a Federally Chartered Credit Union
Effective February 19, we’re proud to celebrate an exciting milestone in our history: Valley First Credit Union is now a federally chartered credit union! For more than 75 years, we’ve stood beside our members, helping build financial confidence and strengthening the communities we call home.
Returning to a federal charter marks the beginning of a new chapter – one that expands our ability to serve, deepens our commitment to members, and reinforces our mission to return even more value to the people we proudly support.
Why We Pursued a Federal Charter
As our membership has grown and the needs of our communities have evolved, operating under a federal charter allows us to:
Operate More Efficiently to Return More Value to Members
Federal charters offer opportunities for operational efficiencies, cost savings, and economies of scale. These savings help us reinvest directly into member benefits, including:
- Higher savings rates
- Lower loan rates
- Enhanced digital and branch delivery systems
Expand Our Strategic Options for the Future
A federal charter gives Valley First greater flexibility to grow, innovate, and meet evolving member needs while maintaining our not for profit cooperative structure.
Maintain Strong Federal Insurance Protection
Your deposits will continue to be insured up to applicable limits by the National Credit Union Administration (NCUA) through the National Credit Union Share Insurance Fund (NCUSIF) - the strongest share insurance program in the nation.
Maximize Member Value Through Additional Tax Exemptions
Federal credit unions receive certain tax advantages, including exemptions from state sales tax. This helps us reduce expenses and redirect more resources back to you, our members.
What This Means for You
Membership & Account Access
Membership rights and structure remain unchanged for eligible voting members and primary account holders. Joint account holders do not gain voting rights unless they also maintain their own primary share account.
Our Name
Our trade name remains Valley First Credit Union.
Our legal name will be Valley First Federal Credit Union.
Members can continue to use their checks, ATM, debit and credit cards, as they currently do.
There is no change to how member access and use their accounts.
Your Money Remains Safe and Protected
All deposits will continue to be federally insured by the NCUA up to applicable limits.
Nationwide Access Continues
Members will continue to enjoy access to:
- 5,300 CO OP Shared Branch locations
- 30,000+ surcharge free CO OP ATMs
Frequently Asked Questions
-
What does it mean that Valley First is now a federal credit union?
Valley First has transitioned from a California state charter to a federal charter regulated by the National Credit Union Administration (NCUA). We remain the same member‑owned cooperative, offering the same services and maintaining the same strong commitment to our Central Valley communities.
-
Why did we make this change?
A federal charter strengthens our long‑term ability to serve members by providing:
- Greater strategic flexibility
- Operational efficiencies under one federal regulator
- Cost savings that help us return more value to members
- Opportunities for innovation and future service enhancements
- Our mission and philosophy of “People Helping People” remain unchanged.
-
How will members benefit?
Members can expect advantages such as:
- Better long‑term value through competitive loan and savings rates
- Cost savings driven by operational efficiencies
- Continued federal insurance through the NCUA
- More room for future technology improvements and service enhancements.
-
Did Valley First merge or get bought?
No. We did not merge, get bought, or sell.
This change is solely a regulatory transition. Your credit union remains independently owned by its members.
-
Do members need to take any action?
No action is required. All services remain unchanged, including:
- Account numbers
- Debit and credit cards
- Checks
- Online & mobile banking
- Branch access
-
Are deposits still insured?
Yes. Deposits remain federally insured by the NCUA/NCUSIF up to $250,000 per account owner, per ownership category.
-
Will our name change?
Trade name: Valley First Credit Union – no change
Legal name: Valley First Federal Credit UnionMember‑facing materials will continue using our trade name, Valley First Credit Union.
-
Will membership rights change?
No. Membership rights stay the same.
Only primary account holders have voting rights – this does not change.
-
Will we remain a CDFI focused on the Central Valley?
Yes. Our mission stays the same.
We remain a Community Development Financial Institution (CDFI) with a strong commitment to the 12 counties we serve in the Central Valley.
-
Can anyone nationwide now join Valley First?
We continue to have field‑of‑membership requirements.
The most common pathway for new members will be through the Financial Fitness Association (FFA). FFA aligns with our commitment to financial wellness, which is why we have partnered with FFA and will pay for the first year of membership. Even though FFA is open nationwide, our outreach and efforts remain focused on the Central Valley.
-
Will access to ATMs and shared branches change?
No. Members continue to enjoy nationwide access to:
• 5,300 CO‑OP Shared Branch locations
• 30,000+ surcharge‑free CO‑OP ATMs
We’re Here for You - Today and for the Future
Valley First remains the same trusted, member owned cooperative you rely on - just with a structure that better supports our growth, efficiency, and ability to serve you wherever life takes you.
Thank you for your membership, trust and participation in this important decision.