ALBUQUERQUE, N.M.— The $921-million First Financial Credit Union and $80-million Southwest FCU have officially merged, the Albuquerque Journal reported.
Eighty-six percent of Southwest members recently voted to join First Financial.
Both CUs are based in Albuquerque.
Southwest CEO and President Randy Lunsford said all three of the credit union’s locations — two in Albuquerque and one in Farmington — will become First Financial branches as part of the transaction. The merger gives First Financial 20 locations across the state, he said.
While the legal merger is official, the credit unions will be fully integrated in early September.
Southwest members will continue operating under its system until full integration with First Financial is completed, Lunsford said.
“We’re working really hard behind the scenes to make sure there’s no negative impact to our members during that process,” Lunsford said.