A.E.A. Federal Credit Union in Yuma, Ariz., has agreed to buy West Valley National Bank in Goodyear, Ariz.
The $350 million-asset credit union said in a press release that it expects to buy the $106 million-asset unit of West Valley Bancorp in the second quarter. The price wasn’t disclosed.
West Valley has three branches in the Phoenix area.
“By expanding our footprint eastward … we can do so more expediently,” Adele Sandberg, the credit union’s president and CEO, said in the release.
The transaction represents the 11th credit union-bank deal announced this year.