ARVADA, Colo.–Two Rocky Mountain State credit unions are looking to merge.
The $674-million Climb Credit Union in Arvada and the $97.3-million Community Choice Credit Union in Commerce City are looking to tie-up. The two credit unions are approximately 12 miles apart.
Both credit unions are profitable. At mid-year, Climb CU, the former Sooper Credit Union, had $489,724 in net income, with net worth of 11.47%. Community Choice CU reported $273,570 in net income to go with capital of 14.79% as of the same date.
The proposed merger will “bring together two longstanding Colorado credit unions that share a strong commitment to service, community, and helping members reach their financial goals,” credit unions said in a statement.
‘People First’
“Our teams have always prioritized people first. By joining forces with Community Choice, we can offer members more opportunities, deepen our community impact, and build a stronger foundation for the future,” Climb President/CEO Carrie Langgard said in a statement.
Climb CU has a corporate office in Arvada and five branch locations in Arvada, Aurora, Colorado Springs, Grand Junction and Lakewood. In August, CCU opened a new office in Colorado Springs.
Community Choice Credit Union has a main office in Commerce City and a branch in Wheat Ridge.
‘Shared Values’
Under the proposed merger the combined organization will operate as Climb Credit Union, led by Langgard, according to the release.
“We’re excited to bring our members into the Climb family,” Community Choice Credit Union President/CEO Rainy Thoen said in a statement.. “Our shared values and member-first philosophy make this a natural partnership that will benefit our members and employees alike.”
The combined credit union will have more than 46,000 members should CCCU members vote in favor.
