PHOENIX — Phoenix-based OneAZ Credit Union has agreed to acquire 1st Bank Yuma in a cash deal that would make the combined entity the second-largest credit union in the Valley.
OneAZ Credit Union announced Thursday it entered into a definitive agreement with Western Arizona Bancorp., the parent company of 1st Bank Yuma, to buy the assets and assume the liabilities of the financial services institution.
If approved, OneAZ’s acquisition of 1st Bank Yuma will increase the credit union’s assets to more than $4 billion and add 1st Bank’s five branches in Yuma, San Luis and Nogales, expanding its locations to 25, according to the credit union.
