Valley Strong Credit Union and Solano First Federal Credit Union announce merger
By Pavithra R
Valley Strong Credit Union and Solano First Federal Credit Union have announced entering into a merger agreement and has received regulatory approval as well as approval by majority vote of the Solano First Membership.
The legal merger date for the two organizations is planned to be July 1, 2021. Under the agreement, Solano First will become a division of Valley Strong. Both organizations will continue to serve its respective Members “business as usual” at their branch locations as they ramp up efforts to work on Solano First being fully integrated from a systems perspective in early October.
Valley Strong’s Nick Ambrosini EVP/CFO and incoming CEO, effective July 1, will be the CEO of the combined organization. Solano First President/CEO Mike Warrell will be a Market President. All current Solano First team members will continue to have employment with Valley strong if they chose.
“I’m really excited to officially welcome Solano First Members and team members to the Valley Strong family. “I’m really excited to officially welcome Solano First Members and team members to the Valley Strong family,” said Ambrosini.
The merger represents a partnership between two organizations committed to Members and the communities they serve. As the financial services landscape continues to evolve, this merger allows Solano First to expand its offerings for Members such as access to more products and services, more locations throughout the state of California, reduced costs and enhanced technologies that will provide greater 24/7 convenience.
“Our board and leadership team were committed to finding ways to provide more Member value, better serve our community and ensure we continue to thrive. Merging with Valley Strong allows us to do just that. We have a tremendous amount of respect for Valley Strong’s board, leadership and team members, and look forward to full integration in October,” said Warrell.
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