Solano First Federal Credit Union and Valley Strong Credit Union announce merger

Valley Strong Credit Union

 

March 13, 2021



Solano First Federal Credit Union and Valley Strong Credit Union have agreed to a merger, subject to regulatory approvals and membership vote. Combined, the organization would serve more than 160,000 members, with assets of $2.4 billion, and 21 branches.

A Solano First merger with Valley Strong represents a partnership between two credit unions that are committed to members and the communities they serve. This partnership will allow Solano First to provide several enhancements to their members in the form of access to more branch locations, and the ability to offer more product and services, at competitive rates. This partnership would also provide enhanced technology offerings that would provide greater 24/7 convenience.

“This merger represents a true member and people first approach,” said Nick Ambrosini, Valley Strong, EVP/CFO, and incoming CEO, effective July 1. “After several months of working side by side to analyze the value of partnering with Solano First, the Valley Strong Board of Directors and I feel that combining our two organizations allows us to further our mission of helping people and communities prosper.”


Mike Warrell, president/CEO of Solano First added, “Merging with Valley Strong allows us to provide enhanced capabilities, more robust products and service offerings, and other significant benefits to our members, our team members, and the communities we serve.”

As member-owned cooperatives, and under the guidelines of the National Credit Union Association, full merger approval is contingent upon Solano First’s member approval. Upon that approval, the entities will become one sometime in 2021.

As the merger process moves forward, both credit unions will provide information to their respective memberships via their websites (www.valleystrong.com and http://www.solanofirst.com), and other applicable communication channels.

Valley Strong Credit Union

Valley Strong Credit Union operates 18 branches, serving more than 150,000 individuals, with approximately $2.2 billion in assets. It remains one of the largest financial institutions headquartered in the San Joaquin Valley.

Solano First Federal Credit Union

Solano First Federal Credit Union was chartered in 1956. Solano First has reached over $175 million in assets, has nearly 10,000 members and is the largest financial institution serving Solano County residents and organizations exclusively.

 
 

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