The $41 billion Navy Federal Credit Union today announced it will merge the $604 million United Services of America Federal Credit Union. Both boards have approved the merger, Navy Fed said in a release.

Pending approval by NCUA, the two credit unions plan to begin joint operations Oct. 1. Navy Fed will keep all of the San Diego-based USA Fed's 19 branches, including 11 military base branches in Japan and Korea.

Jennifer Sadler, Navy Fed public relations manager, said her institution will offer positions to all USA Fed employees, including CEO Mary Cunningham and other senior managers. However, she declined to discuss what roles they may fill.

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