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The Board of Directors of Nuvision Federal Credit Union (Nuvision) and Denali Federal Credit Union (Denali) have signed a Merger Agreement to combine the two organizations. This proposed partnership will merge two independently successful, strong and well capitalized credit unions to create a significantly larger organization with increased operating efficiencies and an expanded market scope.
Under the Merger Agreement, Nuvision CEO Roger Ballard will become CEO of the combined $2.2 billion organization; Denali CEO Bob Teachworth will head up all Denali branch operations in the Pacific Northwest. The federally-insured credit union will retain the Nuvision charter and name; current Denali branch locations will retain the Denali name and brand, operating as a division of Nuvision. Combined, the credit union will serve 160,000 members with approximately 30 branches in Alaska, Arizona, California, Washington and Wyoming. The credit union’s Board will include volunteers from both organizations.
“We are excited about our proposed merger partnership with Denali Federal Credit Union. Each credit union is healthy and well positioned in its respective markets, with shared values and an absolute commitment to serving members. This partnership offers the opportunity to collaborate and leverage our service, support and technology infrastructures to improve our members’ experience,” said Nuvision CEO Roger Ballard.
The merger is pending approval by regulators and Denali members. Assuming all approvals are received, the credit unions estimate the merger will be finalized by the end of 2018, with integration planned for 2019.