Merger and acquisition of business.
A majority of members belonging to the Pleasanton, Calif.-based SafeAmerica Credit Union voted to approve the merger of their $530 million credit union into the $3.3 billion Nuvision Credit Union headquartered in Huntington Beach, Calif.
According to a statement released Thursday, regulators also approved and the merger will become official on Feb. 1.
In a statement posted for its members on the SafeAmerica website, President/CEO Roger Ballard said, “We are very pleased to announce that the membership of SafeAmerica Credit Union resoundingly approved a resolution to merge with Nuvision Credit Union on January 13, 2025. Thank you to all the members who made your voice heard through your vote.”
Specific numbers from the membership vote were not disclosed.
Officials said the combined $3.8 billion credit union will serve 200,000 members with 36 branches in five states: California, Alaska, Arizona, Washington and Wyoming. According to a joint statement, the new organization will operate under the Nuvision name and charter with leadership and employees from both credit unions.
Nuvision CEO Roger Ballard will be CEO of the continuing credit union, and SafeAmerica's five branches will remain open under the Nuvision brand, the statement read.
"We have tremendous respect for SafeAmerica's longstanding tradition of delivering excellent service to its members and supporting its communities. This partnership allows us to bring new benefits to SafeAmerica members, which aligns perfectly with our cooperative mission," Ballard said. "By coming together, we're excited about the opportunity to provide greater value to our combined members and communities. As a larger organization with a significant northern California Bay Area presence, we are well positioned to continue to grow and enhance the services we offer to all our members. We're looking forward to the future we'll build together."
Board Chair for SafeAmerica, Frank Zampella, said, "Our Board of Directors and Executive Team are continually looking for new ways to enhance member benefits, better serve our community and ensure we continue to thrive well into the future. Joining forces with Nuvision will immediately expand our geographic presence and allow both credit unions to realize the efficiencies of a larger organization. Together, we will have the resources to make the right long-term infrastructure and technology investments, deliver more for our members and become more competitive with significant growth opportunities. We have great respect for the Nuvision Board, leadership and staff, and look forward to combining the best of each organization's strengths to grow and bring all our members an extraordinary banking experience."
Last April, the $79 million Paradise Valley Federal Credit Union based in National City, Calif., merged with Nuvision, in a move that brought a first-ever expansion for Nuvision into the San Diego area.
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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.
