Merger news.
Members of the $671 million Denali Federal Credit Union in Anchorage, Alaska voted to approve its merger with the $1.5 billion Nuvision Credit Union in Huntington Beach, Calif., which means the consolidation will become effective Oct. 1, according to a joint statement released Monday.
The results of how many Denali FCU members voted and how many members voted for or against the consolidation were not disclosed.
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The merger, publicly announced in March, was approved by the NCUA approved the merger earlier this year.
Denali President/CEO Bob Teachworth will manage Denali's 15 branches in Anchorage, Eagle River, Fairbanks, Juneau, Kanai, Wasilla and Kent, Wash.
The combined credit union will be governed by a 13-member board, which will include three members of the former Denali board.
Once the consolidation finalizes next month, Nuvision will manage $2.2 billion in assets, operate 31 branches in California, Alaska, Arizona, Washington and Wyoming, and serve more than 175,000 members.
Nuvision said it expects that Denali's systems integration will begin during the first quarter of next year.
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Peter Strozniak
Credit Union Times reporter covering credit union operations, fraud, M&As, leagues, business continuity, and breaking news.
