Mountain America Credit Union in Sandy, Utah, has agreed to sell its branches in Albuquerque, N.M., to Sandia Laboratory Federal Credit Union in Albuquerque.
The $19.6 billion-asset Mountain America said it is selling two branches to the $4.1 billion-asset Sandia Laboratory FCU. The financial details of the deal, which is expected to close in the next few months, were not disclosed.
“Our primary objective was to find a partner as committed to taking care of members and employees as we are,” Sterling Nielsen, Mountain America’s president and CEO, said in a press release. “SLFCU shares many of our values, service orientation, our mission to deliver quality service and technology and to provide valuable financial guidance.”
The deal has already been approved by the National Credit Union Administration. It must be approved by impacted Mountain America members.