DPSCU/SRMCU in Colorado Merging Gateway
DENVER - DPSCU/SRMCU, formed by the merger of Safeway Rocky Mountain CU into DPS CU earlier this year, has announced merger plans with Gateway Credit Union of Aurora. If approved, it will create an $800 million credit union. "An already great partnership just gets better," said Alan Peppers, President/CEO of DPSCU/SRMCU. "We welcome Gateway Credit Union to the family. Now three great institutions are joining forces to create a credit union able to offer even higher levels of service to its members, and one that is much more robust and well situated for the future." A press statement said all three CUs are "financially sound" but are combining in a strategic partnership that provides enhanced products and services to new and existing members in metropolitan Denver, particularly its eastern, southern and western suburbs. Both boards of directors have approved the partnership. The merger must still undergo a due-diligence financial review process, and be approved by regulators and subsequently by Gateway CU members who will vote on joining the DPSCU/SRMCU charter in June, 2006 A spokesman said a new name/logo for DPSCU/SRMCU is currently being worked on and will be rolled out "in about two months."