March 9, 2018
We are pleased to share important news about our plans to bring you more value while ensuring your credit union continues to grow and thrive. The Board of Directors is proposing a merger partnership with Nuvision Federal Credit Union, combining our strengths to bring the best of both financial institutions to our collective membership and communities.
We are excited to take this next step with one very clear and simple goal: To continue our long legacy of helping members achieve financial success. Merger partnerships have always been an important aspect of Denali’s long-term strategies to support our growth and service goals. The strength, stability, and success of your credit union today are the direct result of numerous mergers over the years.
Finding the right partner is a long and thoughtful process that takes many factors into consideration. Nuvision is an excellent strategic partner for Denali, with shared member and management philosophies, top-notch leadership and staff, and a similar vision to deliver the very best to members. Both credit unions are independently successful, strong and well capitalized, and this partnership offers the exciting opportunity to combine our service, support and technology infrastructures to improve our members’ experience and strengthen your credit union.
As a larger credit union, we will have the resources to continue to improve your banking experience with the latest online and mobile technologies, products and services to meet all your financial needs, and the ability to meet members’ lending needs with highly competitive rates. This proposed partnership will expand our branch network to diversify our economic base, significantly increase operating efficiencies, and put us in a much stronger competitive position. We also will be able to better meet the needs of our Alaska and Washington communities through expanded outreach programs.
Combined, we will be a $2.2 billion credit union with branches in Alaska, Washington, Arizona, California and Wyoming. Denali CEO Bob Teachworth will head up our branch operations in the Pacific Northwest, and we will continue to operate under the Denali name and brand in our current locations. Members will see the same friendly credit union staff, and your accounts will continue to be federally insured, just as they are today.
The next step in our partnership is approval from our federal regulator, after which we will ask you to vote on the merger. It will be business as usual for the time being without any changes while we go through the approval process, which will take a number of months. We will keep you updated on our progress; please check our website for the latest news.
We encourage you to take a few minutes to review the enclosed information for additional details about this exciting opportunity. We welcome your questions and feedback; please do not hesitate to contact us at 907-257-7200, option 3, toll-free at 800-764-1123, or [email protected] if you would like to discuss this partnership. As always, we appreciate your membership and continued support.
Chair of the Board
Robert M. Teachworth
See our merger fact sheet (PDF) for additional information.