HUNTINGTON Beach, Calif.—The proposed merger between $3.3-billion Nuvision Credit Union here and $500-million SafeAmerica CU, based in Pleasanton, Calif., has received regulatory approval as well as approval by a majority vote of the SafeAmerica membership, the CUs reported in a joint release.
The merger will become effective Feb. 1, 2025, with system integration planned for mid-February 2025, the organizations said
The combined $3.8 billion credit union, which will serve 200,000 members with 36 branches in 2025, across California, Alaska, Arizona, Washington, and Wyoming, will operate under the Nuvision name and charter with leadership and employees from both credit unions. Nuvision CEO Roger Ballard will be CEO of the continuing credit union, and SafeAmerica’s five branches will remain open under the Nuvision brand, the CUs stated.
“We have tremendous respect for SafeAmerica’s longstanding tradition of delivering excellent service to its members and supporting its communities. This partnership allows us to bring new benefits to SafeAmerica members, which aligns perfectly with our cooperative mission,” Ballard said. “By coming together, we’re excited about the opportunity to provide greater value to our combined members and communities. As a larger organization with a significant northern California Bay Area presence, we are well positioned to continue to grow and enhance the services we offer to all our members. We’re looking forward to the future we’ll build together.”
“Our board of directors and executive team are continually looking for new ways to enhance member benefits, better serve our community, and ensure we continue to thrive well into the future,” said Frank Zampella, chair of the board of SafeAmerica. “Joining forces with Nuvision will immediately expand our geographic presence and allow both credit unions to realize the efficiencies of a larger organization.”