Arizona Copper Federal Credit Union and American Southwest Credit Union Announce Merger and Expansion
SIERRA VISTA, ARIZONA (April 19, 2024) – Members of Arizona Copper Federal Credit Union (ACFCU) and American Southwest Credit Union (ASCU) have exciting news for the future. The two established financial institutions are merging to create a stronger, more resourceful credit union, offering a wider range of financial services and greater convenience for members across southeastern Arizona.
The official announcement of the merger will be made by ASCU President & CEO Jay Williamson. This merger will combine the strengths of both credit unions, resulting in a more robust financial institution with a larger pool of resources to benefit members.
“The merger is a positive step forward for both ACFCU and ASCU members,” said Jay Williamson, ASCU President & CEO. “By merging, we can create a stronger financial institution that is better equipped to meet the evolving needs of our members.”
ACFCU members can expect to enjoy:
Personalized service: ASCU prioritizes building strong relationships with its members and providing personalized financial solutions.
Strong local presence: ASCU has a deep understanding of the needs of the communities it serves and is committed to supporting local initiatives.
Best-in-Class Digital Banking tools: Experience seamless online and mobile banking for your convenience.
Expanded Lending Options: Access to Mortgage, Small Business, and Agriculture Loans.
More Ways to Grow Your Money: IRA and other interest-bearing and deposit accounts not currently offered.
Widespread ATM Access: Gain access to over 55,000 surcharge-free ATMs nationwide.
Extensive Branch Network: Benefit from the convenience of 5,500 shared branches across the U.S.
Expanding Service in Thatcher
In addition to the merger, ASCU is pleased to announce plans to expand its reach by opening a new branch in Thatcher, Arizona. This new location will provide residents of Thatcher with greater access to convenient and affordable financial services. While the opening date for the new branch is yet to be determined, it is sure to be a welcome addition to the Thatcher community.
A Brighter Future for Southeastern Arizona
Now serving both Pinal and Gila Counties, the merger and expansion represent positive developments for credit union members in southeastern Arizona. The combined institution will be better equipped to serve the needs of its members, and the new branch in Thatcher will make financial services more accessible to residents of that community.
Local members with questions about the merger are encouraged to contact their respective credit union for more information.
About Arizona Copper Federal Credit Union
Established in 1955, Arizona Copper Federal Credit Union (ACFCU) has a proud heritage of serving the Copper Basin region.
About American Southwest Credit Union
Founded in 1954, American Southwest Credit Union (ASCU) is a member-owned financial cooperative with a mission to provide financial services to its members and improve the quality of life for everyone. ASCU serves members in Cochise, Gila, Graham, Greenlee, Pima, Pinal, and Santa Cruz Counties in Arizona.
Media Contact:
G. Serna, Marketing Manager, talktous@ascu.org
Frequently Asked Questions
Will our location change?
No. American Southwest plans to add Arizona Copper’s Kearny branch location to its existing branch network. There are no plans for any branch closures.
What does this merger mean for members?
The strategic merger between our two credit unions would allow us the opportunity to provide superior value and positively impact our membership bases.
More Responsive to Evolving Financial Needs
In the highly competitive financial services industry, combining our strengths would allow us to continue to enhance our product, service, and digital banking offerings.
Products/Services and Enhance Electronic Banking Products
As a larger organization, we would achieve greater economies of scale, which would allow us to offer an even more robust product and service line, reduce costs, and ultimately return more value to you, our members. Further, this would allow us to improve our technology and ensure that we’re providing the best digital banking solutions that we can for all members today and in the future.
More Member Access Across More Branch Locations
In total, we would have 6 branches. A larger branch network would allow us to have a greater impact on members. Beyond that, through this partnership, we would gain more resources allowing us to serve more members and have a deeper impact in the communities we serve.
Same Knowledgeable, Friendly Employees
The same friendly staff at our branches would continue to be available to serve members.
Would any employees lose their jobs as a result of the merger?
No. Both credit unions recognize and value the importance of retaining our experienced and dedicated employees. A successful combined organization depends heavily on investing further into the talent of our team members.
What would this partnership do for the credit unions?
Overall, our combined assets would be approximately $390M, serving 33,000+ members with 6 branches in Arizona. With a broad branch network and our combined strengths in products, services, and technological solutions, we would be able to better serve our members and communities.
Why Arizona Copper?
We wanted to identify a partner that shared our passion and aligned with our mission. Both American Southwest and Arizona Copper share a deep dedication to members, team members, and the communities that we serve. We share a common vision for growth and the future of the combined organization.
Would the field of membership change?
Yes. To be able to operate as a combined organization while maintaining memberships from all communities already being served by either American Southwest or Arizona Copper, American Southwest is in the midst of a field of membership expansion application process.