Mountain America CU to exit Albuquerque through branch sale
The eighth largest credit union in the U.S. says it will focus its energies on other markets.
Sandy, Utah-based Mountain America Credit Union is selling off its operations in Albuquerque, New Mexico, to Sandia Laboratory Federal Credit Union.
Details of the sale were not disclosed.
The $19.6 billion-asset Mountain America, the eighth largest credit union in the country, said it is spinning off its two branches in the market to focus on other geographies.
“Our primary objective was to find a partner as committed to taking care of members and employees as we are,” said Sterling Nielsen, Mountain America Credit Union’s president and CEO, in a press release Thursday. “SLFCU shares many of our values, service orientation, our mission to deliver quality service and technology and to provide valuable financial guidance.”
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