Giant Merger Official, Creating $12 Billion Credit Union

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.

Members of Global voted to approve the merger in June.

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.