2 metro Phoenix credit unions announce proposed merger
PHOENIX – Two metro Phoenix credit unions announced a proposed merger last week.
Canyon State Credit Union and Deer Valley Credit Union are hoping to complete the merger this summer, following a membership vote and approval from regulators.
Deer Valley has four Valley locations, and Canyon State has three Valley branches, one in Payson and two Phoenix satellite locations. They both also provide a variety of online banking services.
Both institutions posted similar announcements about the merger, saying all branches would remain open and no jobs would be cut.
The announcements say the merger will provide customers with a better selection of services and additional convenience.
According to industry website CUtoday.info, Canyon State, which opened in 1951, has 18,200 members and 61 employees.
The website said Deer Valley formed in 1971 and has 18,500 members with 77 workers.
CUtoday.info also reported that a name for the combined outfit will be determined after the member vote.