Acquisition will close in the first quarter of 2025, expanding Sunward's New Mexico footprint while giving new members access to new services and additional locations.
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ALBUQUERQUE, N.M., Nov. 25, 2024 (GLOBE NEWSWIRE) -- Sunward, formerly known as Sandia Laboratory Federal Credit Union, and Mountain America Credit Union announced today that after a favorable vote by transitioning Mountain America Credit Union members, the previously announced proposed acquisition is proceeding with a targeted completion in the first quarter of 2025.
"We are excited to welcome members and employees from Mountain America Credit Union to Sunward,” said Steph Sherrodd, Sunward President and CEO. "This addition will strengthen our position and ability to deliver on our goal of making banking better in the Southwest, and in New Mexico specifically.”
Upon finalization, Sunward will acquire both Mountain America Credit Union branches in Albuquerque, New Mexico - Golf Course Road and Paseo Del Norte Boulevard - increasing Sunward's total branch footprint to 15 locations.
"I am confident that Sunward will be an excellent financial partner for our members,” said Sterling Nielsen, Mountain America Credit Union President and CEO. "We chose Sunward because they share our commitment to care for members and employees and are aligned with our values and dedication to quality service.”
While transition and integration work has already started, Mountain America Credit Union branches in Albuquerque will continue operating under their current name, serving their existing members until the transition is complete in the first quarter of 2025. Transitioning Mountain America Credit Union members can expect ongoing communications through the closing date about the timeline and next steps.
About Sunward
Sunward, formerly known as Sandia Laboratory Federal Credit Union (SLFCU), is one of New Mexico's largest credit unions, serving over 150,000 members and managing more than $4.1 billion in assets. Formed in 1948 by employees of Sandia National Laboratories, Sunward's footprint now spans 12 branches in New Mexico and one in Livermore, California.
Sunward has been named by Forbes as a Best-in-State credit union for six consecutive years and Albuquerque's Best Bank in 2024 by the Albuquerque Journal's Readers' Choice Awards. Anyone can apply, and members can enjoy access to leading checking, savings, mortgage, auto, and investment services. Sunward - Banking Made Better. Learn more and apply today at gosunward.org
Sunward is federally insured by the National Credit Union Administration (NCUA) and is an Equal Housing Lender.
About Mountain America Credit Union
With more than 1 million members and $19 billion in assets, Mountain America Credit Union helps its members define and achieve their financial dreams. Mountain America provides consumers and businesses with a variety of convenient, flexible products and services, as well as sound, timely advice. Members enjoy access to secure, cutting-edge mobile banking technology, over 100 branches across six states, and more than 50,000 surcharge-free ATMs. Mountain America-guiding you forward. Learn more at macu.com. Insured by NCUA.
Contact:
Sunward - Andrew Hurd / 505.237.7152 / [email protected]
Mountain America Credit Union - Steve Wright /480-476-6551 / [email protected]
