The Board of Directors of Denali Federal Credit Union requests your support for a merger!
The Board of Directors of Denali Federal Credit Union (Denali) has long included mergers & acquisitions as part of our strategic plan; we conducted a planning session more than a year ago to look toward the long-term future of the credit union. The cost of maintaining regulatory compliance, as well as rapidly increasing costs for medical/health coverage and technology, continues to apply pressure on smaller credit unions, and our existing resources limit the financial products, services and technologies we are able to offer you. With these factors in mind, and after exploration of many other options, the Board of Directors decided the best way forward for our members and staff is to find a merger partner.
After investigating options for merger partners of different sizes and locations, the Denali Board of Directors voted to pursue a merger with Nuvision Federal Credit Union (Nuvision) out of Huntington Beach, California. Why California? Given the nature of financial services today we were not really focused on the credit union partner’s location but more on their membership philosophy and size. Not many large credit unions we spoke with were willing to customize to our philosophy and maintain a strong commitment to the communities we serve – Nuvision was. And, we wanted a partner large enough to have impact in this market and give our members the products and services which a larger institution can sustain far into the future. In addition, we negotiated placing three board representatives for the Pacific Northwest Region on the Board.
What doesn’t change?
- Same Local Leadership & Branch: Current Denali leadership will remain with our combined credit union, and our branch network remains in Alaska and Washington.
- Personal Service & Staff: We will remain member owned and member focused, providing the personal service you have always received, by the same staff that serve you today.
- Account Safety & Security: Your accounts will continue to be federally insured just as they are today through the National Credit Union Share Insurance Fund, which is backed by the full faith and credit of the U.S. Government.
- Community Commitment: We will remain committed to our community.
Both Nuvision and Denali are well capitalized. Both are committed to member service and a legacy of hardworking members. We, the volunteers and staff of the credit union, support and recommend this merger to you. The National Credit Union Administration, our regulator, has vigorously reviewed and also approved our merger proposal. The final decision is for our members to make.
We request that you vote to approve the proposal and help us insure the future of our credit union.
There are three ways you can participate in this most important decision.
- By Mail: Complete and return the attached ballot in the enclosed postage-paid envelope so it is received by 12:00 noon (Alaska time) on September 21, 2018. Please note that we are not able to accept completed ballots in our branch.
- Online: Visit our credit union website, www.denalifcu.org, and click on the “Vote Now” button to cast your vote.
- In Person: Attend and vote during a Special Member Meeting, which will be held at 5:30 p.m. (Alaska time) on September 21, 2018, at Loussac Library, located at 3600 Denali Street, in Anchorage.
Want to know more?
- Please call our Member Contact Center at (907) 257-7200, option 3, or toll free at (800) 764-1123, option 3, or come to the Special Meeting with any questions.
- Or, you can visit our website where we will be maintaining answers to frequently asked questions.
We greatly appreciate your membership and support of this exciting opportunity. Thank you for your time and consideration.
Robert M. Teachworth
President & CEO