The $4 billion Alaska USA Federal Credit Union said last week it expects to complete the purchase and assumption of $110 million High Desert FCU within the next 90 to 120 days. The Anchorage-based CU was the winning bidder for High Desert in Apple Valley, Calif., which was running under conservatorship. The P&A presented us "a very good opportunity to reach beyond Alaska, which has a limited population and is subject to a boom/bust economy," said William Eckhardt, president/CEO of Alaska USA. Eckhardt said there are no further plans to explore West Coast merger opportunities. In the meantime, Alaska USA is devoting itself resources to marketing, computer conversion and operational needs to complete the High Desert P&A. John Kerley, Alaska USA vice president of operations, is heading up High Desert. –[email protected]

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
NOT FOR REPRINT

© 2024 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.