Wyoming & Colorado Credit Unions Merge
Aventa Credit Union members approve to merge into 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.