updated: 4 a few hours ago Published: 4 a few hours ago
SPOKANE, Wash. – Global Credit Union merged with Alaska USA Federal Credit Union, making it one of the largest financial unions in the state.
After the merger, which closed Monday, the combined organization will have 760,000 members, more than 2,000 employees and $12 billion in assets.
As part of the merger, Spokane Credit Union will retain its name and operate as: Global Credit Union, a division of Alaska USA Federal Credit Union, according to a news release.
Geoff Lundfelt, president and CEO of Alaska USA Federal Credit Union, will remain at the helm of the combined organization. Jack Fallis, president and CEO of Global Credit Union, will assume the role of regional president of Alaska USA Federal for the Pacific Northwest and international markets.
“With shared values and a commitment to our communities, we are very excited to merge into one organization,” Lundfelt said in a statement. “We salute the employees and volunteers of Global and look forward to next year when we truly become one.”
Alaska USA Federal expands hiring to existing Global Credit Union employees. According to a news release, several Global Credit Union board members will continue to serve as volunteers on the regional advisory board.
Services for members of both credit unions will remain unchanged until the system is converted in early 2023, according to a press release.
“Once this merger becomes official, our members will continue to receive the products and services they’ve come to rely on, and they’ll continue to see us in the community where we engage and communicate and give back to those we serve,” Fallis said in the statement. .
Financial terms of the merger were not disclosed.
The two credit unions announced in October that they intend to obtain regulatory approval for the merger.
Alaska USA operates more than 90 branches and service centers in Alaska, Washington, California and Arizona. Global Credit Union has 12 branches in Washington and Idaho. It also has three branches at US military facilities in Italy.
Global Credit Union was founded in 1954 as Fairchild Federal Credit Union to serve the financial needs of military and civil servants at Fairchild Air Force Base.
In 1988, Fairchild Federal Credit Union’s board of directors voted to change its name to Global Credit Union to better reflect its diverse membership and increase potential for growth, according to the credit union’s website.
Prior to the merger with Alaska USA Federal, Global served more than 45,000 members worldwide.
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