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July 24, 2026

Gesa Credit Union

Gesa Credit Union and Willamette Valley Bank, together with the bank's parent company, Oregon Bancorp Inc., have announced a definitive agreement for Gesa to acquire the Salem-based community bank, bringing two community-first institutions.

Under the agreement, Gesa would acquire substantially all of Willamette Valley Bank's assets and assume substantially all of its liabilities, in an all-cash transaction. The transaction was unanimously approved by the boards of directors of Gesa Credit Union, Willamette Valley Bank, and Oregon Bancorp.

The acquisition is subject to regulatory approval and approval of the Oregon Bancorp shareholders. The transaction is expected to be completed in the first half of 2027. Following the completion of the transaction, Willamette Valley Bank and Oregon Bancorp will dissolve and the remaining assets will be distributed to the stockholders of Oregon Bancorp.

Willamette Valley Bank opened in Salem in 2000. Gesa has operated since 1953.

The most immediate change for customers after closing would be the name on the door. Willamette Valley Bank's four branches in Linn and Marion counties and its loan office in Washington County, in the Portland metro area, will stay open and staffed by the same teams. At that point, the people who bank there would become member-owners of Gesa.




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