Pima Federal + Republic Bank of Arizona

We are pleased to announce that Pima Federal Credit Union(Pima Federal) has entered into a definitive agreement to acquire Republic Bank of Arizona (RBAZ). This exciting announcement is a significant milestone in our journey to better serve our community and provide enhanced services to both members of Pima Federal and clients of RBAZ.

 

Expansion into the Phoenix market has been a strategic goal for Pima Federal, while a desire to provide its clients with a full suite of consumer financial products has been top of mind for RBAZ. This is a pivotal step towards meeting the goals of our two institutions together as one.

 

Republic Bank of Arizona (RBAZ), established in 2007, is a community bank based in Phoenix, Arizona. RBAZ currently operates three full-service branches in the Phoenix metropolitan area and primarily serves small to medium-sized businesses and individuals. RBAZ focuses on providing personalized banking services, including business and personal banking, loans, and treasury management. The bank emphasizes local decision-making, community involvement, and building long-term relationships with its clients.

The decision to combine our organizations provides our credit union with the opportunity to enhance our service offerings and expand our reach within the Arizona community. The strategic acquisition allows us to merge the strengths of each organization to provide greater financial resources, a broader range of products and services, and enhanced convenience for our members. RBAZ has been a leader in the commercial lending industry in the Phoenix area, while Pima Federal’s long-standing commitment to offering a full host of consumer products, including loans and mortgages, will provide even more value to our combined membership. RBAZ is a well-positioned financial institution and has similar values, goals, and commitment to member service as Pima Federal. Ultimately, this decision strengthens our commitment to the community and positions us for sustainable growth into the future. 

Your membership with Pima Federal will remain the same. This acquisition is intended to enhance our service offerings and provide greater convenience for our membership. Our commitment to providing excellent member service remains our top priority and this decision will enable us to better serve your financial needs.

No. We will continue serving our membership as Pima Federal Credit Union. However, we will consider a name change and/or rebranding in the future to be more inclusive to our broader membership base as we continue to grow in Arizona and beyond.

 

Will Pima Federal remain a credit union? 
Yes, Pima Federal will continue serving our membership as a credit union. This means that profits are shared back with membership through our interest/dividend rates, rather than stockholders.

The approval process is expected to take at least 6 months. Once fully approved, a plan will be established to fully integrate the two organizations which can take up to 12 months.

We look forward to bringing our two organizations together and welcoming the staff and clientele of RBAZ to Pima Federal!