Merger Vote with ValleyStar


Last Updated: 3.12.18

As the financial marketplace continues to evolve, we want to ensure that our small, but mighty credit union’s mission continues to thrive. We are committed to our members’ higher purpose by providing financial solutions that help fulfill their life’s calling. Therefore, a merger with a credit union that shares the same servant heart can offer more opportunity for our time, talents and treasures to have an impact on many.

There is still much work to be done so this merger may become a reality. On February 22nd, we received approval to merge from the NCUA. We are now requesting our members to vote that a partnership with ValleyStar is in the best interest of the credit union. All members will receive an information packet and ballot in the mail in the coming days, and are encouraged to attend the Special Member Meeting on Friday, April 26th at 2:00pm EST at the Baptist General Association of Virginia, which is located at 2828 Emerywood Parkway, Richmond, VA. You may submit your ballot to our third-party agent, Brown, Edwards & Company, L.L.P, by mail (must be received no later than Friday, April 26, 2019 at 2pm EST to our third party) or in-person at the Special Member Meeting. Should this merger with ValleyStar be approved, we will begin to bring all facets of the two credit unions together in a way that limits inconvenience for you. Even though 2019 offers a potential merger, we will continue to serve you as always.

Please refer to our frequently asked questions for more information about the merger. Of course, we will be in touch with email and direct mail to highlight other milestones of the merger. If you have any questions, please contact us at 800.944.3622 or


Frequently Asked Questions:

Why is Entrust Financial Credit Union merging with ValleyStar Credit Union?

Entrust and ValleyStar recognize the changing environment for credit unions. Both credit unions have the same servant heart to members and community. The merger will strengthen the organization by providing a wider array of products and services to our members. We believe the partnership is a good fit. Both credit unions gain access to the wisdom and talent of staff, opportunities to offer products and services that provide solutions rather than hindrances.

Is Entrust financially secure and being forced to merge?

Entrust is financially secure!  Our $74 million in assets and net worth of 8.46% are safe and secure.  In fact, our state regulators consider us well-capitalized. This merger is not being pursued because of anything wrong with our current financial position. This merger is about ensuring we are here for you - our members- in the future, whether you live locally or around the world. As a small credit union, the cost of staying on pace with enhancements to technology continues to grow. For our work to remain compliant with evolving government regulations, it requires resources and operating costs to bridge the gap. With our worldwide membership, the costs to serve you can be substantially higher than that of other credit unions our size. We know that as regulation changes continue to come over the next few years, it will substantially effect our capital. With limited capital, it will make it more difficult for us to remain relevant and serve your basic needs year after year. With all of this being said, we want to ensure our heritage and your needs are met however, whenever and wherever, regardless of what the marketplace offers us.

Will Entrust still be represented on ValleyStar’s Board of Directors and Executive Team?

Yes!  Entrust Financial Credit Union will have representation on the Board of Directors of ValleyStar Credit Union and Executive Team when the merger is finalized.

Will ValleyStar continue to intentionally serve the faith community, locally and around the world?

Yes! A ministry division will be created to operate out of our current Richmond location. This division will continue our focus on the faith community we serve, international services that many rely on, and additional opportunities such as commercial and church lending.  We will be able to expand our reach to serve more of the faith community and build on all of the good work that has been done over the years. 

How is ValleyStar servant hearted?

We are thankful for how ValleyStar embraces the community. They exemplify the fruit of the spirit in all they do with the service they give and the organizations they support. Their website highlights several of these kind acts.

Will ValleyStar continue to support good work happening locally and around the world?

Yes! We will continue to give of ourselves in and outside of the office so we can selflessly serve our members and community. ValleyStar will continue making financial donations to support the good work of non-profits locally and around the world.

What is the merger process?

Entrust and ValleyStar must obtain approval of you – our members - to proceed with this opportunity to merge. We anticipate the voting ballots to be mailed on Tuesday, March 12, 2019. The opportunity to vote will close at a special meeting that will be on Friday, April 26th at 2:00pm EST at the Baptist General Association of Virginia's office, which is located at 2828 Emerywood Parkway, Richmond, VA. The projected official merger date will be June 30, 2019.

Will members be required to vote on the merger?

All members will have an opportunity to vote “yes” or “no” for this merger. We anticipate the merger vote will begin on Tuesday, March 12, 2019 when a letter and ballot will be mailed to the address we have for you on file. We will close voting at a Special Meeting of members that will be scheduled on Friday, April 26, 2019 at 2pm EST at the Baptist General Association of Virginia's office, which is located at 2828 Emerywood Parkway, Richmond, VA 232. One vote per member number will be allowed. You CANNOT submit your ballots to Entrust or ValleyStar employees because of laws in the Commonwealth of Virginia that govern our organizations. You need to mail your completed ballot to the firm that is overseeing this process to be received by Friday, April 26, 2019 at 2pm EST: Brown, Edwards & Company, L.L.P., 319 McClanahan Street SW, Roanoke, VA 24014.

When could the merger be final?

The legal merger date is anticipated to be June 30, 2019. Systems will transition on August 31, 2019.

Will Entrust Financial Credit Union’s office in Richmond, Virginia close?

No! There are no plans to close Entrust’s office in Richmond. It is very important that we maintain and enhance the services to members of both credit unions. In fact, we will be able to have a stronger presence in the communities we serve because of additional local branches. We will carry our mission further - that all people have a higher purpose and have a calling and we wish to provide the financial solutions to help this become a reality!

Will Entrust Financial Credit Union’s staff remain the same?

Yes! All Entrust Financial Credit Union staff members will retain their jobs. Both Entrust and ValleyStar value their talents and how they serve our members with the financial solutions they need.

What is the Vision Statement of ValleyStar Credit Union?

Their vision is to improve the quality of life and financial well-being of their members, community, and employees.

How does ValleyStar fulfill its mission? 

ValleyStar is dedicated to its communities, financial stability, and providing responsive and professional service. They believe in supporting their communities through financial contributions, volunteerism, and sponsorships.  ValleyStar believes service to its members should be in a superior manner utilizing all necessary and available contact points and methods. The Credit Union also believes that consistent, but progressive growth in all areas of the organization will utilize its strengths and achieve an economy of scale ensuring long term stability.  Finally, ValleyStar believes in a positive, pro-growth work culture that promotes education, ethical behavior, and teamwork amongst its employees. 

Will Entrust Financial Credit Union’s name change?

Yes. Entrust would be merging into ValleyStar Credit Union. ValleyStar is the larger of the two organizations, with 8 branches, $400 million in assets, and 40,000 members. In comparison, Entrust has 1 branch, $74 million in assets, and 10,000 members. With the difference in size, the cost to move to the Entrust name would be much greater than to move to the ValleyStar name. Additionally, the established ValleyStar Credit Union brand is well recognized in their geographic field of membership, even more so than the Entrust brand in our geographic field of membership. We are looking at ways to incorporate the Entrust brand into the account name/design and/or Ministry Division.  That is still under development at this time. We don't believe the cost to rebrand the entire credit union using a hybrid name and to rebuild the brand value is in the best interest of the membership at this time.

Who will lead ValleyStar Credit Union?

Delbert Lee Morgan, President/CEO of ValleyStar, will lead the Credit Union. He has been with ValleyStar since 2013 and has more than 25 years experience in the financial industry. Lisa Lambrecht, President and CEO of Entrust, will serve as ValleyStar’s Chief Financial Officer.

What does the ValleyStar name mean?

The word “valley” represents a fertile area.  ValleyStar is dynamic, growing and helping sustain the communities it serves. The word “star” represents a fixed point in the night sky, used for navigational and directional purposes for centuries. The star also represents something of excellence.  ValleyStar guides their members and provides them outstanding service while doing so. From the peak of the star to the low of the valley, ValleyStar Credit Union serves all in between.

What kind of changes should I expect from this merger, and how will I be notified of those changes?

There will be a variety of changes that will occur around the merger, but the teams at both Entrust and ValleyStar will be working diligently to make the conversion process as simple as possible for you and to avoid any disruptions in service. A comprehensive Merger Support Guide will be sent out several weeks before the merger is complete with detailed information regarding all changes to your accounts, important dates, and more.  Most, if not all, of your questions should be answered in this guide, including questions regarding your account number, routing number, debit and credit cards, loan terms, and much, much more.  It is very important that you be on the lookout for this guide and read it fully once it is received.  If you have additional questions after reviewing this document, we are always here to help you! You will continue to receive updates via email, direct mail, and various online channels. Please be sure to read all materials sent to you from Entrust or ValleyStar Credit Union. 

Is my money safe?

As a member of Entrust Financial Credit Union, your accounts are currently insured by the National Credit Union Administration (NCUA), which is a federal insurance agency. This federal insurance agency is backed by the full faith and credit of the United States government. ValleyStar Credit Union is also insured by the NCUA.

Will I have to re-apply for membership or open a new account?

No. Your membership will continue with the new organization.

Will I still have the same global service Entrust members are accustomed to?

Yes. Both credit unions value the needs of their members and will work to ensure that services levels are maintained or enhanced.

Will I still have the same personal service?

Yes. Both credit unions strongly believe in and value their members’ higher purpose. We will always strive to provide financial solutions to help fulfill your life’s calling.

Other Resources:

Merger Package, which include letter from CEO, announcement of Special Meeting, Merger Ballot, Merger proposal and financial statements for both credit unions here.

Update on the member vote for the merger from Lisa Lambrecht, President & CEO of Entrust Financial Credit Union here (published 10.12.18).

The "Why" Behind the Merger from Lisa Lambrecht, President & CEO here (published 9.24.18).

Read Cheri Spence, Chair of Entrust Financial Credit Union's Board, letter from September 11 about the potential merger with ValleyStar Credit Union here (published 9.11.18).


 (rev. 3.12.19)