OneAZ Credit Union has received final regulatory approval to complete its acquisition of Western Arizona Bancorp Inc., the holding company of 1st Bank Yuma, marking one of the most significant credit union–bank mergers in Arizona’s history. The all-cash transaction, unanimously approved by both organizations’ boards, clears the way for full integration in 2026.
The merger, first announced in October, will bring OneAZ’s total assets to more than $4 billion and expand its membership to over 220,000 Arizonans, with five new branches in Yuma, San Luis and Nogales joining the credit union’s existing network of 20 locations statewide.
“With this acquisition, OneAZ is taking a bold step toward fulfilling our commitment to driving positive change across Arizona,” Brandon Michaels, president/CEO of OneAZ, said. “This partnership extends our reach into Yuma and Santa Cruz counties, where we can help fuel economic growth and create opportunities for local residents.”
Wayne Gale, president/CEO of Western Arizona Bancorp and 1st Bank Yuma, said the merger strengthens both institutions’ shared mission. “We’re joining forces with another Arizona-based financial institution that shares our values and community focus. Together, we can offer more products, services, and support for the people and businesses we serve.”
1st Bank Yuma, founded in 2001, has approximately $600 million in assets and a strong focus on small business lending. Its merger with OneAZ will enhance the OneAZ Community Foundation’s ability to expand financial education and community development initiatives in Southern Arizona.
OneAZ was advised by McQueen Financial Advisors and Luse Gorman, PC, while D.A. Davidson & Co. and Spierer Woodward Corbalis Goldberg advised Western Arizona Bancorp.
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