Nuvision Credit Union today announced that Denali Federal Credit Union members voted to approve the merger between the two credit unions, which will become effective October 1, 2018. The merger agreement between Anchorage, Alaska-based Denali and Nuvision, headquartered in Huntington Beach, was previously approved by the National Credit Union Administration (NCUA).
Nuvision Chief Executive Officer Roger Ballard will be the CEO of the combined organization and Denali CEO Bob Teachworth will lead Denali branch operations in the Pacific Northwest. The combined credit union will have more than $2.2 billion in assets and will serve over 160,000 members through 31 branches in California, Alaska, Arizona, Washington, and Wyoming. Denali will retain its brand in Alaska and Washington and will operate as a division of Nuvision.
“This is great news for members of Nuvision and Denali,” Ballard said. “Both credit unions are healthy and growing, and both have a singular commitment to member service. It’s a great match.”
Said Teachworth: “This is a major step for Denali as we continue to grow and serve our members. This allows us to maintain a strong local presence for our Alaska and Washington members and build the financial strength of a western region credit union. The Denali board, when we first initiated merger discussions, looked for a credit union that shared our member service philosophy, and Nuvision stood out as a great partner.”
The combined credit union will be run by a 13-member board of directors, which will incorporate three current members of the Denali Board. Nuvision anticipates that systems integration will begin in the first quarter of 2019.