Nuvision Credit Union and Cooperative Center Federal Credit Union Announce Merger Approval
Media Contact
Tom Sweet, SVP Marketing & Public Relations
[email protected]; 714.375.8249
Huntington Beach, CA & Martinez, CA—March 19, 2024—Nuvision Credit Union (Nuvision) and Cooperative Center Federal Credit Union (Cooperative) announced today that their merger has been approved by a majority vote of Cooperative members. With all approvals received, the merger will be effective June 1, 2024.
The credit union will operate under the Nuvision name and charter, with combined leadership and employees. Nuvision CEO Roger Ballard will be CEO of the continuing credit union; Cooperative CEO Fadhila Holman will remain with the combined credit union focused on Northern California operations.
“We have great respect for Cooperative’s long cooperative legacy of providing outstanding service to its members and investing in its communities. Through joining forces, we look forward to bringing greater value to our collective members and communities,” Ballard said. “As a larger organization with an extended geographic footprint, we will be in an even better position to grow and serve all our members. And, through this partnership, we can add significant value to Cooperative members, which is an important aspect of our cooperative mission. We couldn’t be more excited about our shared future.”
With shared CDFI certification and a mutual commitment to serve the best interests of their members and communities, a combined organization brings multiple benefits to both credit unions and their collective members. Through the partnership, Cooperative members will now have access to significantly expanded products and services, new banking technologies, additional branches, and much more. Nuvision will extend its geographic footprint into Northern California with two additional branches and an established member base. And, as a larger organization, the combined credit union is well positioned to continue to grow and increase member value for the long term.
Holman noted, “The merger will bring the best of both institutions to our combined membership and the communities we serve. Not only will it bring immediate benefits to our members and communities with expanded services, we’ll also be in an excellent position to continue to enhance our member offering and community support initiatives in every way. A merger also made sense from a cultural perspective as both credit unions share a cultural commitment to member service that has long been a strategic differentiator for each of us.”
About Nuvision Credit Union
Nuvision Credit Union is a full-service financial institution with 26 branches in five states: California, Arizona, Wyoming, Alaska, and Washington. Headquartered in Huntington Beach, Calif., Nuvision was founded in 1935 to serve the employees of Douglas Aircraft Company. Today, it has more than $3.2 billion in assets, over 160,000 members, and has expanded its membership to assist all the hardworking people in the communities they serve. For more information, visit nuvisioncu.org.
About Cooperative Center Federal Credit Union
Originally chartered in 1942 to serve employees and members of the Consumers Cooperative of Berkeley, Inc., Cooperative Center Federal Credit Union has since evolved into a $130 million federally insured credit union serving approximately 8,000 members. Headquartered in Martinez, California, the credit union offers full-service financial services to employees of select employer groups and associations throughout the Bay Area with two branch locations. Please visit coopfcu.org for additional information.
