Denali Federal Credit Union to merge with California credit union

Alaska's third-largest credit union is set to merge with a California organization.

Denali Federal Credit Union announced this week it has signed an agreement to pursue a merger with Nuvision Credit Union, a $1.6 billion institution based in Huntington Beach, California.

The merger is expected to take about a year, and Denali members won't be affected as that process happens, the credit union said in a statement.

The combined $2.2 billion organization will operate under the Nuvision name, but Denali branch locations will retain the Denali name.

Joining forces will allow Denali to expand its network into new states "and ensure we become much more competitive for the long term," Denali CEO Bob Teachworth said in a written statement.

Denali has branches in Alaska and Washington state, and Nuvision has branches in Los Angeles County and Orange County as well as Arizona and Wyoming.