HUNTINGTON BEACH, Calif.–Members of Paradise Valley Credit Union have voted in favor of merging into Nuvision Credit Union. Nuvision CU said the legal date of the merger will be May 1.
Paradise Valley FCU posted a loss of $361,774 at year-end 2023, with capital of 10.36%. The $80-million PVFCU has approximately 4,500 members.
The $3.3-billion Nuvision reported $3.11 million in net income and net worth of 10.93% as of March 31. It has more than 162,000 members.
Nuvision CEO Roger Ballard will be CEO of the continuing credit union; PVFCU CEO Bud Schaffner will remain with the combined credit union, overseeing San Diego operations through system integration.
Thereafter, Schaffner will focus on business development and community outreach in the San Diego area, Nuvision said.
PVFCU is approximately 100 miles south of Nuvision CU’s headquarters.
‘Shared Mission’
“We look forward to welcoming the PVFCU employee team and members into the Nuvision family, offering many more products and services, leading technologies, and new branches,” Ballard said. “With our shared mission and values, together we’ll continue to serve all the financial needs of our hard-working members, providing an enhanced banking experience, while maintaining PVFCU’s long heritage of service to its members and the San Diego community.”
Nuvision CU said it will now offer 14 shared branches in San Diego, 11 Nuvision branches across Southern California, and 5,000+ shared branches nationwide.
‘Long Legacy’
“We are confident this merger partnership will continue our long legacy of serving our communities with a singular mission to help members achieve financial success,” Shaffner said in a statement. “Through our partnership, PVFCU’s branches will remain dedicated to serving the needs of members, preserving our cooperative heritage and commitment to member service. We’re excited to offer our members all of Nuvision’s product, service and technology advantages to bring them much more value from their credit union.”
Daily News Headlines. To Your Inbox. Every Day. And It’s Free
The biggest, best and freshest news reporting in credit unions remains free, and now has an added bonus---free shipping to your email address! That’s right. Each morning CUToday.info delivers its daily Fresh Today news update offering the latest headlines and breaking news right to your email, with the easy-to-read headlines format allowing you to click on the stories that interest you most in order to learn more. So stop paying those bank-fee-like subscription prices from other so-called “news” publications!
If you haven’t yet signed up for the new email solution on which CUToday.info has partnered with ResponseGenius, you can do so here. Signing up requires less than one minute of your time—and it’s free!
Please note that after signing up you may need to go to your Spam/Junk folder and mark the morning headlines email as safe. CUToday.info does not provide its list of readers and emails to outside parties, and we will not be contacting you to sell you an extended warranty or sending you any links so you may cash in on an inheritance.
And did we mention it’s free?