OGDEN — The boards at Goldenwest Credit Union and USU Charter Credit Union announced Tuesday their intent to merge the two Utah-based credit unions.
Upon completion, the partnership will include 26 branches, $985 million in assets and more than 106,000 members.
An affiliate of Utah State University, USU Charter Credit Union will maintain its brand in Cache Valley but operate as a division of Goldenwest Credit Union.
“Goldenwest is the ideal strategic partner for us,” said David Butterfield, president and CEO of USU Credit Union. “Both credit unions are financially sound, our fields of membership are complementary to one another, and we share similar values for members, employees and the community.”
When the agreement is settled, USU Credit Union members will have all membership privileges at Goldenwest’s 21 existing offices and will also be able to access their accounts at thousands of additional locations across the country through the shared branch network.
USU Credit Union members will have full access to Goldenwest’s portfolio of products and services as well, including residential mortgages and commercial loans.
The merger will provide greater convenience and value to both Goldenwest and USU Credit Union members, said Kerry Wahlen, Goldenwest president and CEO.
“Goldenwest has about 2,000 members who currently live in Cache and Box Elder counties,” Wahlen said. “We are excited to bring these members added convenience by serving them in the five USU Credit Union branches.”
The merger is subject to regulatory approval by the National Credit Union Association. The deal is expected to be completed in the fourth quarter of 2013.