Wyoming’s Largest Credit Union Buys Two Bank Branches

Wyoming’s largest financial cooperative, the $1.1 billion Blue Federal Credit Union in Cheyenne, said Tuesday it is purchasing two Liberty Savings Bank branches in Colorado that manage more than $101 million in deposits and serve 2,149 customers.

Financial terms were not disclosed. The transaction, which has been in the works for more than year, was approved by regulators in November, a joint statement released by the two financial institutions said. The deal is expected to close in February.

The branches, in Denver and Granby, employ nine staff that will continue to work for the credit union.

The deal expands Blue FCU’s market presence in Colorado from eight branches to 11 branches with its first branch in Denver’s city limits. The Granby branch is about 86 miles northwest of Denver. The credit union also broke ground in November for a new branch in Erie, about 28 miles north of Denver, which is expected to open later this year.

In addition to the 11 Colorado branches, Blue FCU also operates six branches in Wyoming.

“We are excited to have the opportunity to welcome the 2,149 Liberty Savings Bank customers as member/owners of Blue, while providing great convenience for our existing members in this area”, Blue FCU President/CEO Stephanie Teubner said. “The mission of Blue Federal Credit Union is to “work hard, have fun and win for our members.”

After the transaction of the bank branches is completed, the credit union will employ a staff of 268 that will serve more than 91,000 members.