ALPS, Tongass FCUs
Seek Approval to Merge
ALPS Federal Credit Union, with headquarters in Sitka, and Tongass Federal Credit Union, with headquarters in Ketchikan, announced today they’re seeking regulatory approval of their intent to merge.
The two credit unions have been allies in the industry since the 1960s, sharing best practices and supporting each other in serving Southeast Alaska coastal communities, the announcement said.
Helen Mickel, TFCU president and CEO, and Sandi Riggs, ALPS president and CEO, said they trust that their members will benefit from the enhanced services.
Tongass Federal Credit Union is a $150 million credit union with nine locations across Southeast Alaska, including Ketchikan, Metlakatla, Thorne Bay, Klawock, Wrangell, Hydaburg, Kake, Hoonah and Haines. ALPS is a $75 million credit union and operates locations in Sitka and Petersburg.
The merged entities will operate under the Tongass Federal Credit Union brand.
The merger would combine ALPS FCU’s 3,986 members with TFCU’s 9,418 members, and expand the workforce to about 72 employees, the announcement said. It would result in an organization with combined assets of more than $225 million, making it the fourth largest credit union in the state.
Stakeholders of both organizations were informed of the merger today.
“ALPS has grown exponentially over the past few years and is quite possibly the strongest it has ever been in membership, assets, and financial position,” Riggs said. “We have always worked side by side with TFCU because our members share the unique characteristics of Southeast Alaskan consumers and businesses.
“Both credit unions have had growing pains that include staff shortages, increased operating expenses, and regulatory burden. Considering the current economic conditions, we feel it’s the right time to combine our efforts and resources so that we continue to provide the best possible products and services to our shared and unique Southeast Alaska membership.”
“TFCU and ALPS serve the small and unique coastal communities of Southeast Alaska,” Mickel said. “We are Alaskans who understand the culture, climate, and lifestyle of our region. TFCU is excited to partner with ALPS to move our combined credit union into the future. We remain committed to serving indigenous and coastal communities, while strengthening our ability to deliver excellent services that enhance the lives of our member-owners.”
When the merger is completed, all ALPS employees will be offered positions with Tongass Federal Credit Union. “Our team has demonstrated a tremendous dedication to serving ALPS FCU members, especially throughout the pandemic,” Riggs said. “We want to ensure that talent is retained so the personal level of service continues for our membership moving forward. I’m confident that our members will receive the same or better level of service, and that local decision-making will remain intact.”
Two of the ALPS FCU board of directors will continue to serve as volunteer officials of the combined organization.
“This merger will bring the best of both credit unions to its combined membership,” Riggs said. “TFCU has a Low-Income Designation and is certified as a Community Development Financial Institution (CDFI), designations that ALPS can’t qualify for due to our geographic census. The merged entity will carry these designations, which will primarily benefit our businesses and low-income mortgage-seeking members.”
The proposed merger requires approval from the National Credit Union Administration, the credit union’s regulatory body, followed by approval of the ALPS FCU membership.
Sitkan Wins Scholarship
For Healthcare Program
By Sentinel Staff
Delainey Steffes of Sitka is among seven Southeast Alaska Native students who have received Healing Hand Foundation scholarships.
Steffes will receive $2,500. Scholarships are for those participating in the Ethel Lund Visionaries in Healthcare program, a first-of-its-kind scholarship that focuses on opportunities for Alaska Native students pursuing higher educational opportunities in the healthcare field. Students have earned $2,500, $1,000 and $500.
She will continue work on her bachelor’s degree in psychology at Washington State University fall term. She also plans to attend graduate school and become a neuropsychologist. Steffes said she wants to help communities heal from issues such as generational trauma and addiction.
‘‘I’m eager to continue my education to become better equipped to give back to my community,’’ Steffes said today. ‘‘I am very grateful for the support and recognition from the Foundation. It’s important to support Native students and those who want to pursue a career in healthcare.
‘‘I’m excited for the future generations of Native healthcare workers who will be supported throughout their endeavors,’’ she said.
In high school, Steffes was a member of the National Honor Society and the Sitka Youth Leadership Committee, and was on the Mt. Edgecumbe High School honor roll. In college, she was on the dean’s list.
Steffes is a member of the Indigenous Society of Psychologists. It hosts events and brings awareness to issues such as Murdered and Missing Indigenous Women and residential boarding schools. It also provides healing support for Indigenous people.
Steffes is a member of the Noow Tlein dance group and volunteers for Sitka Rotary Club and the Sitka Music Festival.
For information about the scholarships and to see the list of winners, visit the Healing Hand Foundation website at www.hhf-ak.org.
Tlingit Artist
To Give Talks
The Sheldon Jackson Museum and Friends of Sheldon Jackson Museum invite the public to attend two artist talks to be given by current artist-in-residence Eechdaa Dave Ketah (Tlingit).
The first talk will be 3 p.m. Friday, July 22, on Zoom and in-person at the Sheldon Jackson Museum. Ketah will give a talk on a selection of artifacts from the permanent collection of the Sheldon Jackson Museum.
Zoom details are: https://us02web.zoom.us/j/86043522805?pwd=akJBaERLeTUxNGd0a0MyRHA1S3M0UT09; Meeting ID: 860 4352 2805; Passcode: 755531.
On Saturday, July 23, 3 p.m., also on Zoom and in-person at the Sheldon Jackson Museum, Ketah will give a talk titled “What Type of Ancestor Will You Be?”
Zoom details are: https://us02web.zoom.us/j/88092990531?pwd=blpRbHU2c21LMW9CVThEb3A4RXJNQT09; Meeting ID: 880 9299 0531; Passcode: 80201
Moose Lodge Sets
Highway Cleanup
Sitka Moose Lodge will hold its first Adopt-a-Highway cleanup event 1:30 p.m. Saturday, July 23.
All members can join the event, starting at the north Halibut Point Recreation Area parking lot. The lodge will provide trash bags, gloves and safety vest. The cleanup will take about an hour, organizers said.
