Global: A Division of Alaska USA Federal Credit Union
Learn how this exciting news will benefit our members, employees and communities.
Great News!
The NCUA has approved the Global + Alaska USA merger
With the NCUA’s and Washington regulator’s blessing we are officially one step closer to becoming a stronger credit union for our combined members, employees and communities. The next step is hearing from you!
Ways to participate:
- Be on the lookout for your official member ballot in your mailbox. Ballots are due by 5pm on June 1.
- Attend the Special Meeting of the Members on June 1, 2022 at 10 am at Global HQ, RSVP to Lindsie.jackson@globalcu.org
Alaska USA Federal Credit Union
Officially Merges with Global Credit Union
ANCHORAGE, AK & SPOKANE, WA (August 1, 2022) – Today, Alaska USA Federal Credit Union (Alaska USA) with headquarters in Anchorage, Alaska, and Global Credit Union (Global) with headquarters in Spokane, Washington have officially merged. Global will now operate as “Global Credit Union, a Division of Alaska USA Federal Credit Union.”
Under the merger, current President and CEO of Alaska USA, Geoff Lundfelt, will remain President and CEO of the combined $12 billion asset organization. Current President and CEO of Global, Jack Fallis, will become Regional President of the Pacific Northwest and International markets for Alaska USA. All employees of Global are now employees of Alaska USA and several members of Global’s Board of Directors will continue to serve as volunteer officials of a Regional Advisory Committee.
“As this merger becomes official, our members will continue to receive the products and services they have come to rely on and will continue to see us in the community, engaging and interacting, giving back to those we serve,” said Jack Fallis, Global Credit Union’s president and CEO. “It also becomes even more apparent that by becoming one entity, we are able to offer our employees opportunities they would not otherwise have.”
Although the merger is legally completed on August 1, operations for both organizations will not change where member service is concerned. Global members will continue to access their account information using Global products and services, including visiting Global branches. In fact, there will be no adjustments for members of either organization until the full system conversion in early 2023.
“With shared values, and a commitment to our communities, it is with great excitement that we merge into one organization,” said Geoff Lundfelt, Alaska USA president and CEO. “We welcome the employees and volunteers of Global and look forward to next year when we truly become one.”
About Alaska USA – Alaska USA Federal Credit Union is a member-owned, not-for-profit financial cooperative with more than $11.4 billion in assets and more than 700,000 members worldwide. The credit union operates more than 90 branches and service facilities in Alaska, Arizona, California, and Washington State. Alaska USA offers a 24/7 Member Service Center and access to more than 55,000 surcharge-free ATMs worldwide, as well as online and mobile solutions. Learn more at www.alaskausa.org.
About Global Credit Union - Global Credit Union, founded in 1954, is a full-service member- owned, not-for-profit financial institution serving more than 45,000 members residing around the world. Membership is open to anyone living or working in Washington State, Kootenai, Benewah, Shoshone or Latah counties in Idaho, and all active duty and retired military members and their families. Global operates 12 branches in Washington and Idaho and an additional three branches in Italy on U.S. military installations. For more information, visit www.globalcu.org.
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Common Questions
It’s official! The votes are in and members approved the Global + Alaska USA partnership. As we move forward in joining our credit unions, rest assured we are still here for you as we always have been. We will keep you updated on all the exciting news as we move ahead, together.
Global CU will retain its name.
This partnership offers additional products, services, locations, and an overall better member experience to our combined membership. With a larger membership size, greater service area and more than 2,000 credit union professionals to serve you, we can provide more competitive rates, lower fees, enhanced technology solutions and additional opportunities for our members, employees and communities.
No, in fact both credit unions continue to grow and are independently successful. The Board of Directors of both credit unions agree that there are significant benefit to both memberships with this deliberate partnership. Both credit unions fully support and are excited and passionate about the opportunities this partnership will provide to our members, employees and local communities.
The Board of Directors and management of both credit unions have concluded that the proposed merger is beneficial and in the best interests of our members. Global CU and Alaska USA have similar origins, fields of membership and corporate culture centered around what is best for members, employees and communities. Both were founded through military connections, with Alaska USA founded on the Alaska Air Depot in 1948 and Global founded on Fairchild Air Force Base in 1954. Global will retain its trusted name, all locations and will continue to expand locations and service offerings.
The merging of the two entities will combine to create a credit union with over $11 billion in assets and over 750,000 members throughout the world, making it one of the largest credit unions in the US. Both credit unions share a community service philosophy through charitable donations and community involvement. In addition, the merger provides very practical member service components including a 24/7/365 full service member service center staffed with credit union employees, an expanded suite of loans and services for consumer, mortgage, real estate and commercial members, full-service consumer insurance options and access to over 55,000 surcharge-free ATMS worldwide. Both credit unions are also members of a shared branching network, allowing members access to locations worldwide in addition to an extensive branch network in Alaska, Washington, California, Arizona and military installations in Italy.
Yes! Your savings will continue to be federally insured to at least $250,000 and backed by the full faith and credit of the United States Government through the National Credit Union Association, a US Government agency.
This merger makes both of our organizations stronger, which benefits our employees, our members and the communities we serve. Partnering with another established credit union will significantly increase operating efficiencies so we will have the resources to deliver much more to Global members – with the same personalized service we have always provided. Members will have expanded access to branches, a 24/7/365 member contact center, and future innovation. It will result in combined assets of over $11 billion, making it one of the 15 largest credit unions in the country. The merger will also provide the opportunity to participate in larger philanthropic efforts in the communities where we live, work, and serve.
All of Global’s team members will be offered employment and nearly everyone will maintain the same or a substantially similar role after the merger is complete. This merger creates a tremendous amount of opportunity for employees to expand their careers at the combined credit union.
At this time your member number and online access will remain the same. Throughout this process, in the event that your member or account numbers have to change, you will be notified well in advance and we will assist you every step of the way.
You will continue to use your account and credit union as you always have. We are committed to make any transition as seamless as possible and any changes will be communicated well in advance, insuring uninterrupted access to your money.
No. There was very little overlap between Global and Alaska USA, so upon completion of the merger, members of the combined organization will have access to over 80 branches in five states.
Many Alaska USA branches participate in CO-OP Shared Branch. Refer to the CO-OP Shared Branch website to find your nearest participating Alaska USA branch or locate your nearest CO-OP Shared Branch ATM.
Alaska USA is a member of the Allpoint surcharge-free ATM network, and after the merger is complete, Global members will have access to more than 55,000 surcharge-free ATMs worldwide.
Our collective commitment to the communities we serve remains steadfast, and we look forward to the potential of even more significant and broader participation with the financial strength of the combined organizations.
Questions? Contact Us
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