Valley Strong Credit Union and Solano First Federal Credit Union announce merger approvals
Valley Strong Credit Union
June 19, 2021
Valley Strong Credit Union and Solano First Federal Credit Union have announced their merger has received regulatory approval as well as approval by an overwhelming majority vote of the Solano First membership. The legal merger date for the two organizations is planned for July 1, 2021. The biggest change at that time is Solano First will become a division of Valley Strong. From a member perspective, there will be minimal impact at legal merger date. Both organizations will continue to serve its respective members “business as usual” at their branch locations as they ramp up efforts to work on Solano First being fully integrated from a systems perspective in early October.
Valley Strong’s Nick Ambrosini EVP/CFO and incoming CEO, effective July 1, will be the CEO of the combined organization. Solano First President/CEO Mike Warrell will be a Market President. All current Solano First team members will continue to have employment with Valley strong if they chose.
Solano First’s merger with Valley Strong represents a partnership between two organizations committed to members and the communities they serve. As the financial services landscape continues to evolve, this merger allows Solano First to expand what it offers members such as access to more products and services, more locations throughout the state of California, reduced costs and enhanced technologies that will provide greater 24/7 convenience.
“I’m really excited to officially welcome Solano First members and team members to the Valley Strong family,” Ambrosini said. “The Solano First team mirrors our passion when it comes to member commitment and working hard to make an impact in the communities we serve.”
“Our board and leadership team were committed to finding ways to provide more member value, better serve our community and ensure we continue to thrive,” Warrell said. “Merging with Valley Strong allows us to do just that. We have a tremendous amount of respect for Valley Strong’s board, leadership and team members, and look forward to full integration in October.”
To stay up to date with the combined organization’s merger information you can visit their respective websites at http://www.valleystrong.com and solanofirst.com.
Valley Strong Credit Union
Valley Strong Credit Union operates 18 branches, serving more than 150,000 individuals, with approximately $2.4 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.