Valley Strong Credit Union to merge with Financial Center Credit Union
By Pavithra R
Valley Strong Credit Union and Financial Center Credit Union has announced their plans to merge pending regulatory approval and membership vote. If approved, the organization will operate under the Valley Strong name.
Combined, the organization would be a leading credit union in California. The organization’s combined assets are approximately $3.2 bn, and serves nearly 200,000 Members with 27 branches throughout the San Joaquin Valley from Lodi to Tehachapi.
“The phrase ‘Growing Together,’ is a perfect adage, as this merger represents a strategic partnership between two financially healthy, future focused credit unions committed to providing unparalleled branch access, digital access, and amazing service for the Members and the communities they serve. In a financial services sector that is constantly evolving, this merger is a true embodiment of the credit union industry’s cooperative mind-set. At its core our partnership with Valley Strong represents us selecting the best credit union partner to help us achieve our goals faster than we could duplicate on our own,” said Michael P. Duffy, President/CEO of Financial Center.
As Member-owned cooperatives, and under the guidelines of the National Credit Union Association, a successful merger is contingent upon Financial Center’s Member approval.
“When I first sat down with Michael and we started to share our visions for our respective credit unions, everything just felt right. Our partnership is rooted in the commitment and passion we have for serving our Members. Financial Center’s passion for the industry and for the long-term growth and viability of community credit unions matches Valley Strong’s. We’re partnering for the right reasons, and when organizations do that, it’s a win-win!,” said Nick Ambrosini, Valley Strong, EVP/CFO, and incoming CEO for the combined organization.
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November 26, 2021
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