Credit Union West and Desert Medical Federal Credit Union to Merge
Merger supports focus on serving healthcare professionals and community giving throughout Phoenix and surrounding communities.
We are proud to announce that we have reached an agreement with Desert Medical Federal Credit Union to merge operations following recent approval from the Desert Medical Federal Credit Union Membership and Board of Directors. The combined entity will go forward under the Credit Union West banner once the merger is completed, which is projected to be December 1, 2016.
For 65 years, we have served the employees, family members and retirees of the Luke Air Force Base community. Most Recently, we expanded to serve the employees and their families of the John C. Lincoln Health Network and other regional health care providers.
Desert Medical Federal Credit Union’s main sponsors are the HonorHealth network in the greater Phoenix area. HonorHealth was formed by a merger between Scottsdale Healthcare and John C. Lincoln Health Network. Through the merger we will gain approximately 2,000 members and assets of $10 million.
“This is a win-win situation for both Credit Union West and Desert Medical Federal Credit Union’s members, and the HonorHealth network,” according to Bob MacGregor, President and Chief Executive Officer at Credit Union West. “This merger makes sense for a number of reasons. First, it is synergistic with our legacy of serving the healthcare professional community. Second, we will realize increased economies of scale helping reduce our costs and strengthening our financial value proposition to our members. And third, we will increase our presence and access for our members in the east valley where HonorHealth network operates.”
“The two credit unions share a deep understanding of healthcare professionals’ financial needs,” adds MacGregor. “Both are dedicated to the credit union philosophy of ‘people helping people’ and have a strong dedication toward exceptional service. We’re very proud to welcome Desert Medical members and the HonorHealth network into the Credit Union West family. We are looking forward to helping them reach their financial goals.”
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