ALBUQUERQUE, N.M. — Two very large credit unions here have announced plans to merge, making this market home to a number of very large CUs.
The $2.3-billion Sandia Laboratory Federal Credit Union and the $763-million Kirtland Federal Credit Union said they are planning to combine. If approved, it would make the merged institution the largest financial institution headquartered in New Mexico.
Combined, the two credit unions will have approximately 130,000 members.
The merger will now go before members of Kirtland FCU. Sandia Laboratory will be the surviving charter. The two CUs are now seeking approval from NCUA for the plan.
While not often thought of as home to big credit unions, in addition to the potential for the $3-billion merged institution, the city is also home to the $1.8-billion Nusenda, the $600-million Sandia Area Credit Union, the $939-million U.S. Eagle FCU, the $295-million Rio Grande CU, and the $515 million First Financial Credit Union.