Nusenda Credit Union (NCU) has signed an agreement to acquire Western Heritage Bank (WHB), a state-chartered bank headquartered in Las Cruces, the credit union said in a news release.
When finalized, the combined entities will have 29 branches and more than 800 employees to serve more than 260,000 members, the news release said.
NCU currently has 23 branches from Taos to Las Cruces and has more than $4 billion in assets. WHB has six branches in Las Cruces, Deming and El Paso and $338 million in assets. Each institution has a five-star superior rating from BauerFinancial, Inc., which Nusenda said is the nation’s most well-known independent rating service for banks and credit unions.
NCU is the largest locally owned financial institution in New Mexico, the news release said, and WHB “has helped build businesses ranging from the agriculture industry to manufacturing operations in the border region.”
The transaction is expected to close next year and is subject to standard closing conditions as well as shareholder and regulatory agency approvals, Nusenda said.
NCU “lives by the philosophy of ‘people helping people,’ just as WHB is committed to its connection to community and its clients,” said Nusenda President and CEO Joe Christian. “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.”
"This is a win-win for both of our organizations and the people we serve," WHB President and CEO Greg Cory said. "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."