Credit/Blue Federal Credit Union
Members of the Colorado Springs, Colo.-based Aventa Credit Union approved the proposal to merge with Blue Federal Credit Union in Cheyenne, Wyo., to create a $2.2 billion credit union with more than 150,000 members spread across the western states.
The merger became official on March 1 after Aventa members voted in favor of the merger on Feb. 26.
According to a statement on Friday, Aventa will keep its name for now before transitioning to the Blue brand later this year.
The merger will expand Blue's presence in Colorado with the addition of Aventa's six locations in Colorado Springs, Pueblo, Salida, Center and Crestone. With the addition of those branches, Blue will have 27 locations in Wyoming and Colorado.
Stephanie Teubner, president/CEO of Blue Federal Credit Union said, "Our members' dreams are our dreams, and with this merger finalized, we are looking forward to the exciting journey together!"
When the merger proposal was announced in October of last year, Aventa President/CEO Greg Mills said, "This partnership represents a significant milestone for Aventa's members, associates and communities. We embrace Blue's commitment to being your lifelong financial champion."
Based on their NCUA Call Reports, the combined credit union would manage more than $2.2 billion in assets and $1.7 billion in loans with 402 employees who would run 19 branches in Colorado and eight locations in Wyoming.
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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.
