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As of Aug. 1, the merger between Alaska USA Federal Credit Union and Global Credit Union became official – creating a regional powerhouse of a credit union that now stretches across Washington, Alaska, California, Idaho and Arizona. The merger also included Global's branches on military bases in Italy.
The new credit union has a combined asset size of $12 billion and serves more than 760,000 members.
According to details of the merger between the Anchorage, Alaska-based Alaska USA and the Spokane, Wash.-based Global, Alaska USA will retain its name and Global will now operate as "Global Credit Union, a Division of Alaska USA Federal Credit Union."
Current Alaska USA President/CEO Geoff Lundfelt will remain president/CEO of the new credit union and the current president/CEO of Global, Jack Fallis, will become regional president of the Pacific Northwest and international markets for Alaska USA.
Monday's announcement from Alaska USA also stated that several members of Global's board of directors will continue to serve as volunteer officials of a regional advisory committee for the new credit union.
"With shared values, and a commitment to our communities, it is with great excitement that we merge into one organization," Lundfelt said. "We welcome the employees and volunteers of Global and look forward to next year when we truly become one."
Fallis said, "As this merger becomes official, our members will continue to receive the products and services they have come to rely on and will continue to see us in the community, engaging and interacting, giving back to those we serve. It also becomes even more apparent that by becoming one entity, we are able to offer our employees opportunities they would not otherwise have."
The newly-formed credit union has 76 branches and, according to Alaska USA, officials plan on rolling out a full system conversion sometime in early 2023.
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Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
