The $975 million Elevations Credit Union of Boulder, Colo. ismaking plans to merge the nearby $80 million St. Vrain Valley CU ofLongmont, extending Elevations' expansion in metropolitanDenver.

Both CUs were pronounced healthy and well capitalized and chosethe merger route to expand a product line which would providemortgages to St. Vrain members.

Elevations is the state's fifth largest CU.

The planned merger is subject to approval of the St. Vrainmembership and regulators.

“We see this as a natural fit both culturally andgeographically,” said Carroll Beach, the Elevations chairman, noting both CUs retain “the same corevalues.”

The merger is slated to become effective Oct. 1 and would giveElevations three new branches for a total of 11.

“In spite of the challenges in the economy, both Elevations andSt. Vrain are financially strong as both organizations have capitalratios exceeding 9%,” said Gerry Agnes, president/CEO ofElevations.

St. Vrain was established in 1954 as Longmont's first CU andserves more than 9,400 members. Elevations has 85,000 membersand was formed in 1952 to serve faculty and staff at the Universityof Colorado.

Eva Gaudio, president/CEO of St. Vrain, will join Elevations'senior executive team and two SVCCU board members will sit on acombined board, the credit unions said in statement. Fullintegration of the two operations would take place in the spring of2012.