RIVERDALE, Utah — Members of Intermountain Credit Union will be meeting next Tuesday to vote on whether or not to merge with America First Credit Union. The emergency merger is the result of a number of failed real estate loans that have left Intermountain facing insolvency.
Intermountain Credit Union determined that it had insufficient income or capital to stay afloat and requested the action.
Intermountain Board of Directors unanimously approved a proposition to merge with America First Credit Union on July 31. NCUA and the State Department of Financial Institutions have also approved the merger.
If the action meets the members' approval, the administrative staff, membership and assets of Intermountain Credit Union will be fully integrated into the operations of America First Credit Union.
The merger is not expected to impact America First's finances or operations.
Intermountain Credit Union has assets of about $40 million and a membership totaling about 7,200 members.
America First Credit Union is Utah's largest credit union and the nation's 12th largest credit union with assets of $4.4 billion. It ranks sixth in credit union membership with 473,000 members.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
