Canyon State Credit Union Announces Southwest Healthcare Merger

(Phoenix, AZ) — Southwest Healthcare Credit Union has taken steps to merge with Canyon State Credit Union, pending a vote by the Southwest Healthcare membership.

Southwest Healthcare Credit Union has $15 million in assets and 1,800 members, once branch location and five ATMs.  Canyon State Credit Union has $450 in assets and 37,000 members, access to eight branch locations, 7 proprietary ATMs, and access to over 30,000 surcharge-free ATMs worldwide with specified ATM networks.

Southwest Healthcare Credit Union President and CEO, Colleen Curtis, stated “The financial industry is always changing!  With the increased competition from non-traditional companies, other out-of-state financial institutions, increased need for digital strategy and new federal laws and regulations, we can no longer remain competitive with the products and services our members deserve.  Our friends at Canyon State Credit Union have been a great partner to smaller credit unions over the years.  The merger opportunity enables us to provide enhanced services to membership, with the long-term best interests in mind.  Canyon State’s focus on providing excellent member service, active community involvement and collaborative culture are a natural fit for our member and employees.”

Canyon State CEO, Robb Scott, said “We are excited to combine our strengths with Southwest Healthcare.  Both organizations started as a vision of a few coworkers who pooled their financial resources together to help one another.  The philosophy of ‘people helping people’ remains true and strong today, and is evidenced in the work and collaboration among credit unions. I’ve had the distinct pleasure of working alongside Colleen for several years, and her passion for serving her members is unwavering and inspiring.  We believe that this partnership will be mutually beneficial, and will provide even greater options to their membership. We are looking forward to welcoming them into our family and expanding our branch network to better serve all of our members throughout the Phoenix and Payson area. We are committed to investing in our partnership and our community for years to come.”

Tom Phalen, Chairman of the Board for Southwest Healthcare added “It’s imperative that we stay true to ourselves, our values, and our members by remaining a member-focused and service-driven institution. We understand that to deliver on that promise, we need to be positioned to do business in alignment with today’s consumer behaviors.  Canyon State Credit Union definitely meets our expectations of a member focused institution and we truly believe this partnership will be beneficial and provide ever greater option to our members.”

About Canyon State Credit Union:  Canyon State Credit Union is headquartered in Phoenix and has been serving the people of Arizona for more than 67 years with seven branch locations in the Valley and a branch in  Payson, AZ.  With $450 million in assets and over 37,000 members, Canyon State is open for membership from anyone who lives, works, or worships in within six counties in Arizona, as well as anyone who works for the credit union’s designated Select Employee Groups (SEGs).

About Southwest Healthcare Credit Union:  Southwest Healthcare Credit Union was been serving the Valley since 1967, and has 1,800 members and $15 million in assets.  Since its inception, Southwest Healthcare has focused on member service with a common goal of improving the financial lives of its members.

Contact:          Lenore Froehlich

LFroehlich@canyonstatecu.org

602.509.7115