Two of the metro area’s oldest credit unions — Denver Community Credit Union and Sooper Credit Union in Arvada — are merging, creating a financial institution with more than $620 million in assets, the two announced on Tuesday.
The merger is expected to be completed by the third quarter of 2017. They will operate out of nine locations, but have not yet decided on a new name.
“This partnership is the next step — a foundational step — toward our larger goal of providing our members with a broader platform of products and services,” Sooper’s president and CEO Dan Kester said in a statement.
“We are both state-chartered, with similar cultures and philosophies, and we have worked very collaboratively for many years,” Denver Community president and CEO Carla Hedrick said in a statement.
Denver Community was formed in 1934 and serves members in Adams, Arapahoe, Jefferson and Denver counties.
Sooper formed in 1951 and primarily serves members in Colorado, Wyoming, Utah and New Mexico.
