Nuvision Credit Union and Paradise Valley Federal Credit Union Announce Merger Approval
Nuvision Credit Union (Nuvision) and Paradise Valley Federal Credit Union (PVFCU) announced today that their merger has been approved by a majority vote of PVFCU members. With all approvals received, the legal date of the merger for the two organizations is planned for May 1, 2024.
The combined credit union will operate under the Nuvision name and charter, with leadership and employees from both credit unions. Nuvision CEO Roger Ballard will be CEO of the continuing credit union; PVFCU CEO Bud Schaffner will remain with the combined credit union, overseeing San Diego operations through system integration. Thereafter, Schaffner will focus on business development and community outreach in the San Diego area.
“We look forward to welcoming the PVFCU employee team and members into the Nuvision family, offering many more products and services, leading technologies, and new branches,” Ballard said. “With our shared mission and values, together we’ll continue to serve all the financial needs of our hard-working members, providing an enhanced banking experience, while maintaining PVFCU’s long heritage of service to its members and the San Diego community.”
Designed as a cooperative partnership to bring its members more from their credit union, PVFCU’s branches in National City and Santee will continue to serve members under the Nuvision brand, with the addition of 14 shared branches in San Diego, 11 Nuvision branches across Southern California, and 5,000+ shared branches nationwide. Members also will benefit from a significantly expanded product, loan and service offering, including comprehensive Business Banking. The partnership marks Nuvision’s entry into the greater San Diego market with two full-service branches and an established member base.
Schaffner commented, “We are confident this merger partnership will continue our long legacy of serving our communities with a singular mission to help members achieve financial success. Through our partnership, PVFCU’s branches will remain dedicated to serving the needs of members, preserving our cooperative heritage and commitment to member service. We’re excited to offer our members all of Nuvision’s product, service and technology advantages to bring them much more value from their credit union.”