Nuvision & Paradise Valley FCU Merger Approved
Merger marks Nuvision’s entry into the greater San Diego market.
Members of the $79 million Paradise Valley Federal Credit Union (PVFCU), based in National City, Calif., approved the credit union’s merger with the Huntington Beach, Calif.-based $3.3 billion Nuvision Credit Union, in a move that brings a first-ever expansion for Nuvision into the San Diego area. With the approval, the legal date of the merge is set for May 1.
According to a joint statement from the credit unions last week, while specific numbers were not detailed, a majority of PVFCU members voted in favor of the merger. The combined credit union will operate under Nuvision’s name and charter. Nuvision CEO Roger Ballard will continue in his position as PVFCU’s CEO Bud Schaffner will remain on to oversee the San Diego operations through the system integration. Once complete, Schaffner “will focus on business development and community outreach in the San Diego area.”
Ballard said, “We look forward to welcoming the PVFCU employee team and members into the Nuvision family, offering many more products and services, leading technologies and new branches. With our shared mission and values, together we’ll continue to serve all the financial needs of our hard-working members, providing an enhanced banking experience, while maintaining PVFCU’s long heritage of service to its members and the San Diego community.”
With the merger, Nuvision will rebrand PVFCU’s two branches in National City and Santee. “The partnership marks Nuvision’s entry into the greater San Diego market with two full-service branches and an established member base,” the statement read.
Schaffner added, “We are confident this merger partnership will continue our long legacy of serving our communities with a singular mission to help members achieve financial success. Through our partnership, PVFCU’s branches will remain dedicated to serving the needs of members, preserving our cooperative heritage and commitment to member service. We’re excited to offer our members all of Nuvision’s product, service and technology advantages to bring them much more value from their credit union.”
The newly-merged credit union will serve more than 165,000 members.