SPOKANE, Wash.–Members of the $612-million Global Credit Union here have approved a merger into Anchorage-based Alaska FCU.
When complete, the combined institution will have $11.4 billion in assets, 76 branches across five states and more than 760,000 members.
In fact, following the merger, Alaska USA will have more branches in the Evergreen State than in its home state. Alaska USA has 27 branches in Alaska and 22 branches in Washington. With Global CU’s seven branches, the merger will bring its total in Washington to 29.
In addition, the merger will also expand Alaska USA’s presence into Idaho, where Global has two branches, and into Italy, where Global has three branches on military bases.
Alaska USA also has 12 branches in Arizona and another six in California.
Global CU reported $487,600 in net income in Q1 with capital of 8.51%, while Alaska USA reported $20.035 million in net income and capital of 9.13% as of the same date.
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