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COMBINED $2.2 BILLION CREDIT UNION TO SERVE 160,000 MEMBERS ACROSS ALASKA, ARIZONA, CALIFORNIA, WASHINGTON & WYOMING
Recently, Nuvision Credit Union and Denali Federal Credit Union signed a merger agreement to combine the two organizations. This partnership will unite two independently successful, strong and well-capitalized credit unions to create a significantly larger organization with increased operating efficiencies and an expanded market scope. The National Credit Union Administration granted regulatory approval for the merger on August 14, 2018.
Under the agreement, Nuvision CEO Roger Ballard will become CEO of the combined $2.2 billion organization and Denali CEO Bob Teachworth will lead Denali branch operations in the Pacific Northwest. The federally-insured credit union will retain the Nuvision charter and name. Denali branch locations will retain the Denali name and brand, and operate 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 combined Board will include volunteers from both organizations.
“We are excited about our proposed merger partnership with Denali Federal Credit Union,” said Nuvision CEO Roger Ballard. “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.”
Denali members will be asked in September 2018 to consider the merger. If the members approve, the credit unions estimate that integration will begin in the first quarter of 2019.