NE Valley Times

Pima Federal Credit Union has received regulatory approval to acquire Republic Bank of Arizona, with the acquisition set to close on May 2, 2025. This move is a key step in Pima Federal's strategy to expand its services and market presence.

The combined entity will have total assets of $1.5 billion, enabling Pima Federal to offer an expanded range of financial products and services. The integration aims to leverage the expertise and resources of both institutions for the benefit of their members.

Eric Renaud, President & CEO of Pima Federal, expressed satisfaction with the approval: “We are delighted to receive regulatory approval for the acquisition of Republic Bank of Arizona.” He added that this acquisition marks a pivotal moment for the organization, enhancing value for members and communities. Renaud emphasized a commitment to ensuring a smooth transition while welcoming Republic Bank’s customers and employees into the Pima Federal community.

Linda Kennedy, Chair of the Board of Directors, noted that the acquisition aligns with their strategic vision and growth commitment. She expressed excitement about future opportunities and serving members with enhanced capabilities.

The process will unfold over several months, focusing on seamless integration for all stakeholders. Throughout this period, Pima Federal aims to maintain high service standards.

Pima Federal Credit Union has served Tucson since 1951 as a not-for-profit cooperative. It operates ten branches across several counties and serves over 68,000 members. The credit union emphasizes returning earnings through competitive interest rates and lower fees while supporting community financial goals.

For more information about Pima Federal Credit Union, visit www.pimafederal.org.