LAS VEGAS—Meadows Bank in Las Vegas has now been fully acquired by Utah-based America First Credit Union and is now operating as Meadows Financial, a division of America First.
The transaction, which closed May 31, combines the community bank with one of the nation’s largest credit unions. The combined organization now operates 122 locations across Nevada, Arizona, Utah, California, Idaho and New Mexico and serves approximately 1.5 million members, the Las Vegas Review Journal reported.
Founded in 2008, Meadows Bank grew into a full-service community bank with six branches across Nevada and Arizona, including locations in Las Vegas, Henderson, Pahrump, Reno and Phoenix, according to the organizations.
The ‘Goal’
“When we formed Meadows Bank, our goal was to create a strong, relationship-driven institution, defined by the values and trust we’ve earned in the communities we serve,” Meadows Bank Chairman William Bullard, one of the bank’s founders, said in a statement. “This partnership with America First reflects those same principles and delivers enhanced resources and products and services, while positioning our customers, employees and communities to benefit from enhanced capabilities and continued relationship-based banking.”
Bullard added that the bank is “excited to carry our legacy forward with an organization that shares our culture and long-term vision.”
According to the Review-Journal, America First has retained all Meadows Bank employees. Existing customers will keep their account numbers, checks, debit cards and credit cards, while also becoming eligible for membership in America First Federal Credit Union and gaining access to the credit union’s branch network, expanded services and loan offerings.
‘Thrilled to Welcome’
“America First is thrilled to welcome the Meadows family to our organization,” President and CEO Thayne Shaffer said in a statement reported by the newspaper. “Our credit union serves over 90,000 business members, and we are always seeking ways to expand our ability to serve those members, especially in the Nevada and Phoenix markets.”
Shaffer said Meadows Bank’s community relationships, organizational culture and commercial banking expertise made it a strong fit for the credit union. He added that the combined institution will provide Meadows customers with expanded borrowing capacity while giving America First members greater access to commercial financial services.
Representatives of Meadows Financial and America First did not respond to requests for comment from the Las Vegas Review-Journal, according to the newspaper.
Riverdale, Utah-based America First Federal Credit Union was founded in 1939 and has approximately $26.4 billion in assets, making it the nation’s sixth-largest credit union. The institution now operates 18 branches in Nevada.
