Nusenda Credit Union is New Mexico’s largest locally owned and operated credit union with over 260,000 members and more than 750 employees
Nusenda Credit Union to acquire Western Heritage Bank. (Creidt: Sasun Bughdaryan on Unsplash)
Nusenda Credit Union announced today it has signed an agreement to acquire Western Heritage Bank, a state-chartered bank headquartered in Las Cruces, New Mexico.
“The combination of our two community focused institutions that share similar beliefs about customer service, community impact, and employee well-being will be beneficial to Nusenda Credit Union members and to Western Heritage Bank customers in the Borderplex region. Our cultures are strongly aligned, and we share a focus on putting people first. Providing local communities and businesses with best-in-class products and services, and supporting our employees, is a priority for both organizations,” commented President & CEO of Nusenda Credit Union, Joe Christian.
Western Heritage Bank has helped build businesses ranging from the agriculture industry to manufacturing operations in the border region. Nusenda Credit Union is the largest locally owned financial institution in New Mexico and is known for its member-focused approach, community involvement, and innovative financial products.
“This is a win-win for both of our organizations and the people we serve,” said Greg Cory, President & CEO of Western Heritage Bank. “Nusenda is recognized year-over-year as a top financial institution, winning ‘best bank’ and ‘best credit union’ awards and ‘top workplace’ honors. We are excited to bring additional resources to our clients and plan to continue our tradition of serving our local communities.”
When finalized, the combined entities will have 29 branches and over 800 employees to serve more than 260,000 members. Nusenda currently has 23 branches from Taos to Las Cruces, New Mexico and Western Heritage Bank has six branches in Las Cruces and Deming, New Mexico and El Paso, Texas. The transaction is expected to close next year and is subject to standard closing conditions as well as shareholder and regulatory agency approvals.
Both entities have a history of strong financial performance. Nusenda has over $4 billion in assets and Western Heritage Bank has $338 million in assets. Both financial institutions have a 5-Star Superior Rating from the nation’s most well-known independent rating service for banks and credit unions, BauerFinancial, Inc.
For Nusenda members and Western Heritage clients, this will mean additional locations and continued access to affordable, best-in-class financial services, and future products and services enhancement. Visit www.nusenda.org/western for additional details.
“Nusenda Credit Union lives by the philosophy of “people helping people,” just as Western Heritage Bank is committed to its connection to community and its clients. The addition of their talent and expertise to our Credit Union will be transformative and have a significant positive impact on our operations and services,” said Joe Christian, Nusenda President and CEO. “We are creating places of ample economic opportunity for members, businesses, and communities.”
Source: Company Press Release