Westerra CU Rebrands, Drops Fees, Launches Modern 'Transformation'
Other changes at the credit union include new energy efficiency loans and faster account openings.
As the fall season ushers in changes in colors of the leaves, the Denver-based Westerra Credit Union said it is rolling into November with several color and operating changes as well.
The $1.9 billion Westerra unveiled its new logo, colors and website on Tuesday as part of its “transformation to a modern financial community.” The changes came after feedback from focus groups, member and non-member surveys, and discussions with members and staff.
“We put a lot of time, effort, heart and soul into creating the new look for Westerra. We hope our members can feel how thoughtfully these changes were designed,” Westerra Chief Marketing Officer Wade Paschall said. “These new elements align with the digital-first approach to how we deliver financial services to our members.”
The credit union also announced the elimination of all overdraft and non-sufficient fund fees (NSF) on checking accounts. According to the credit union, it had been waiving all fees since the pandemic began in March 2020 and has since decided to discontinue those fees.
Westerra marked the ninth credit union in the past four months that announced either the elimination or reduction of overdraft and NSF fees.
More changes announced by Westerra included a new Everyday Money spending account that members can open in five minutes. Westerra said the account features the ability for members to get paid up to two days early if they have direct deposit.
What’s more, the credit union introduced new options for energy efficient loans to make renewable energy home improvements more affordable. “Ranging from $500 up to $50,000 for primary, secondary or vacation homes, an Energy Efficiency Loan can provide support for common energy efficient projects, such as solar panels or purchasing new ENERGY STAR appliances,” the credit union said.
Due to the historically competitive real estate market, especially in the Denver metro area, Westerra also launched its “Close-On-Time Guarantee” for home loans. According to the credit union, “With the competitive real estate market, Westerra’s pre-approval process lets sellers and their agents know offers are ready to go, which provides the opportunity for buyers to compete against other offers, even cash offers.”
“We’re undergoing a transformation at Westerra,” Jay Champion, Westerra’s president/CEO, said. “Westerra already has a reputation for its commitment to education, top-notch service and an excellent member experience. The changes we launch today demonstrate our commitment to our members, our community and our environment — all through a digital-first approach to our changing world.”