OGDEN, Utah— America First Credit Union here and Greater Nevada CU have entered into a merger agreement that would create a credit union with neasrly $28 billion in assets, KOLO reported.
The transaction is expected to be completed in the fourth quarter, subject to regulatory approvals and other closing conditions, according to the credit unions.
America First currently reports more than $26 billion in assets, more than 1.5 million members and 122 locations across six states. Carson City, Nev.-based Greater Nev., has approximately $1.7-billion in assets, more than 89,000 members and 13 branches, primarily in northern Nevada. The combination would significantly expand America First's Nevada presence, particularly in the northern and rural portions of the state.
According to KOLO, Greater Nevada will operate as Greater Nevada: A Division of America First Credit Union following completion of the merger. Greater Nevada said there will be no immediate changes for members and that its branches will continue operating with current employees, while the Greater Nevada name, local leadership and community involvement will remain.
“America First and Greater Nevada have built strong reputations of putting members first and investing in the communities they serve,” said Thayne Shaffer, president and CEO of America First Credit Union. “Together, we’ll build on that shared commitment by expanding access to convenient banking, trusted financial guidance, and the products and services members need to achieve their financial goals.”