Frequently Asked Questions
We understand that you may have some questions related to the transaction, so we are providing answers to some of these questions. Please review these helpful FAQs, and let us know if you have other questions we can help answer.
Who is Pima Federal?
Pima Federal is a federally chartered credit union headquartered at 6850 North Oracle Road, Tucson, Arizona 85704. Pima Federal serves over 66,000 members and has assets of approximately $1.3 billion. Pima Federal is proud to maintain a strong local and community focus throughout Arizona state, in four counties in Arizona: Pima, Yuma, Navajo, and Apache. Beyond its corporate office, Pima Federal currently operates ten (10) retail branches and is planning to open an additional branch in early 2026. Pima Federal belongs to the Allpoint network, which provides Pima Federal’s members access to over 55,000 surcharge-free ATMs. As a credit union, Pima Federal is a member-owned, not-for-profit financial cooperative. Profits are returned to
members in the form of reduced fees, higher savings rates, and lower loan rates. Pima Federal is service-focused and emphasizes superior financial products and services to its members and the communities it serves. Pima Federal was formed in 1951 and has been active in the local community ever since. Pima Federal does all that it can to help those that lack access to quality financial services. Pima Federal seeks to serve those residents,
particularly those of modest means, who desire to obtain credit union services but presently may not have access to them. Residents not currently eligible for credit union services are often forced to pay higher fees and interest rates for loans while they also receive lower rates on savings. In pursuit of this mission, Pima Federal offers products and services that are appropriate for all residents, regardless of income or age. The product mix and financial
expertise the credit union can make available would offer an accessible, low-cost financial services alternative in underserved areas. Pima Federal reviews sponsorship, volunteer, and donation requests monthly through a program called Pima Shares. Applications for support are received through Pima Federal’s Community page on its website. These are great opportunities to provide support and resources to deserving local non-profits. Pima Federal will be opening this up to the Phoenix market once the transaction is complete. Pima Federal hosts an annual golf tournament to benefit local charities. Since inception in 2013, $706,000 has been raised for various local non-profit organizations. In addition to the annual golf tournament, in 2023 Pima Federal provided $322,728 to local charities in donations and sponsorships supporting 159 local organizations. Pima Federal is also proud to offer free financial education from its website. A program called Banzai is available, which offers articles, games, and fun ways to get users involved with saving, retirement, college planning, and budgeting, among other things. Pima Federal has also offered a First-Time Buyer program presentation to those new to the housing market, How to Understand & Improve Your Credit Score, and budgeting presentations.
What is the transaction?
In the transaction, Pima Federal will acquire substantially all of the assets and assume substantially all of the liabilities, including all deposit accounts, of Republic Bank. The operations of Pima Federal and Republic Bank are complementary with respect to business plans, safety and soundness, core values, corporate cultures, commitment to serve their communities, and provision of the highest quality financial products and services to their customers.
The primary purpose of the transaction is for us to diversify and enhance the delivery of our banking products and services to better serve the market areas and customers of both institutions, which we will be able to do more effectively through a consolidated organizational structure. The closing of the transaction is expected to occur on May 2, 2025.
The primary purpose of the transaction is for us to diversify and enhance the delivery of our banking products and services to better serve the market areas and customers of both institutions, which we will be able to do more effectively through a consolidated organizational structure. The closing of the transaction is expected to occur on May 2, 2025.
Will there be changes to your staff?
At this time, we do not anticipate significant changes to the staff resulting from the transaction. While there will be adjustments as Republic Bank integrates with Pima Federal, our focus is on creating new opportunities for growth and collaboration. Republic Bank employees will join with Pima Federal employees sharing a commitment to deliver financial services and expertise to families and small businesses throughout the communities we serve. All RepublicBank locations will remain open to serve our clients and we anticipate that the same Republic Bank staff members that currently service your accounts will remain in place after the completion of the transaction.
Who will be the President/CEO?
Eric Renaud is the current President and CEO of Pima Federal and will continue in that role following the closing of the transaction.
Will there be changes to the Board of Directors?
The current Board of Directors of Pima Federal will remain unchanged as a result of the transaction. The Board of Directors of Republic Bank will dissolve as soon as practicable after closing.
Where will the headquarters be located?
The headquarters of Pima Federal will remain at 6850 North Oracle Road, Tucson, Arizona 85704, its current headquarters.
When will I see signage begin to change at branch locations?
We anticipate that branch signage will change on May 2, 2025, which is the expected date of the completion of the transaction.
Are you planning to close any branch locations?
No, all three (3) of Republic Bank’s branch locations will be maintained and added to Pima Federal’s existing branch locations resulting in a network of thirteen (13) total banking locations, plus the additional branch that Pima Federal plans to open in early 2026.
Is a Pima Federal membership required?
At a credit union, “customers” are called “members.” But membership is not required to maintain your deposit accounts at Pima Federal. Access to other products and services of Pima Federal may be restricted, however, without membership. Pima Federal is designated as a low-income credit union, which means a majority of Pima Federal’s potential or actual membership qualifies as low-income. Among other benefits, this designation provides Pima Federal with the ability to accept non-member deposits from any source. Customers who do not choose to become members may continue to keep their deposits at Pima Federal, or they may withdraw their deposits at any time. Customers who choose to become members may also withdraw their deposits at any time.
Who is eligible to be a member of Pima Federal?
You are within Pima Federal’s current field of membership, and therefore eligible to become a member of Pima Federal, if you meet any one of the following requirements:
- Live, work, worship or attend school in Apache County.
- Live, work, worship or attend school in Navajo County.
- Live, work, worship or attend school in certain specified census tracts in Maricopa County.
- Live, work, worship or attend school in certain specified census tracts in Pinal County.
- Live, work, worship or attend school in certain specified census tracts in Pima County.
- Live, work, worship or attend school in certain specified census tracts in Yuma County.
- Work as an employee for one of our Select Employer Groups, which are independent companies that Pima Federal has partnered with to provide its services to their employees.
- Are an employee, volunteer, or registered member of any non-profit organization in Pima County.
- Are a member of Trico Electric Cooperative, Inc.
- Are related to anyone who is an existing member.
In addition, Pima Federal’s field of membership includes the Friends of the Pima County Public Library. A person who becomes a member of that organization will be eligible to become a member of Pima Federal. If you are not within Pima Federal’s current field of membership and would like to become a member of Pima Federal, Pima Federal will fund your $20 one-time membership fee to the Friends of the Pima County Public Library if you “opt-in” to become a member of Pima Federal. Pima Federal believes all current Republic Bank customers will be eligible to become Pima Federal members through this channel if they are not already within Pima Federal’s current field of membership.
How do I become a member?
To become a member of Pima Federal, you will need to be within Pima Federal’s field of membership and “opt-in.” All Republic Bank customers are being provided the opportunity to become members of Pima Federal effective upon completion of the transaction. You will automatically be a part of Pima Federal’s field of membership and eligible to become a member if you meet any of the eligibility standards discussed above under “Who is eligible to be a
member of Pima Federal?”, including through Pima Federal funding your membership in Friends of the Pima County Public Library. You will separately receive from Pima Federal materials for becoming a member, including an “opt-in” form for indicating your membership election and a self-addressed envelope for returning the form to Pima Federal. You may also choose to become a member of Pima Federal by email or online by following the instructions
included in the materials from Pima Federal. Pima Federal will open a membership share account for any Republic Bank customer who has opted to become a member of Pima Federal and who does not have an equivalent deposit account at Republic Bank on the closing date to fund such membership at Pima Federal. The minimum amount required to fund a deposit account at Pima Federal is $20.
member of Pima Federal?”, including through Pima Federal funding your membership in Friends of the Pima County Public Library. You will separately receive from Pima Federal materials for becoming a member, including an “opt-in” form for indicating your membership election and a self-addressed envelope for returning the form to Pima Federal. You may also choose to become a member of Pima Federal by email or online by following the instructions
included in the materials from Pima Federal. Pima Federal will open a membership share account for any Republic Bank customer who has opted to become a member of Pima Federal and who does not have an equivalent deposit account at Republic Bank on the closing date to fund such membership at Pima Federal. The minimum amount required to fund a deposit account at Pima Federal is $20.
What’s the benefit to me related to this transaction?
Through this transaction you will gain access to an expanded suite of consumer financial services, including consumer and mortgage loans and lending products, credit cards, and more. Pima Federal members will have access to additional products and services and reduced net fees, as shown in the enclosed comparison of products and services offered by Pima Federal and Republic Bank. In addition, as a member of Pima Federal, you will have access to over 55,000 surcharge-free ATMs nationwide through the Allpoint network. Pima Federal members are also eligible for a number of specific perks, including access to a member discount on auto, home, and renters insurance from Travelers; exclusive discounts and offers for shows, events, and concerts through a partnership with TicketsatWork.com; and discount vacation packages through Get Away Today. Additional information on the perks of Pima Federal membership can be found at: https://www.pimafederal.org/connect/member-perks. As a member-owned, not-for-profit financial cooperative, Pima Federal is able to offer competitive rates and lower fees and return excess capital to members when it performs well.
Will my account number change?
We anticipate that there may be changes to your account numbers, although those changes will not occur at the closing. We will work to minimize any changes made to your accounts. We understand that this type of change may cause disruption. Our commitment will be to make any transition as smooth as possible, so that you experience no interruptions in accessing your accounts. You will receive more detailed information about your accounts prior to the date of the systems conversion, which is expected to occur on May 17, 2025. As discussed above, the “systems conversion” means the combination of the data processing systems of Pima Federal and Republic Bank that will occur after the closing.
Will my deposits continue to be federally insured?
Yes, your deposits will continue to be federally insured to the maximum amount available, currently up to $250,000 per owner for each account ownership category, through the NCUA, who administers the NCUSIF, and backed by the full faith and credit of the United States Government.
What happens if I already have both a Pima Federal account and a Republic Bank account?
Following the closing of the transaction, which is expected to occur on May 2, 2025, you will continue to have both accounts available for you at Pima Federal. In the event you have more than $250,000 at Pima Federal as a result of the transaction, the excess will not be federally insured by the NCUA through the NCUSIF, unless it is in a separate ownership category. Will I be able to access my account through Pima Federal branches?
Yes, but not immediately. Immediately following the closing of the transaction, which is expected to occur on May 2, 2025, you will have access to the same branch locations and ATM networks as you do currently as a Republic Bank customer. Limited account access may be available at Pima Federal locations until the systems conversion, which is expected to occur on May 17, 2025. Upon the systems conversion, you will be able to access your account at any of the thirteen (13) branches of Pima Federal as well as any additional, new branches that Pima Federal plans to open.
Will I still be able to use my current checks?
Yes, you will continue to be able to use your current checks following the closing of the transaction, which is expected to occur on May 2, 2025. If new checks are necessary after the systems conversion, which is expected to occur on May 17, 2025, you may request a complimentary box.Will I still be able to use my credit card?
Yes, you will continue to be able to use your current credit card following the closing of the transaction. After the systems conversion, Pima Federal will introduce its own credit card, and we will provide you with information about this product.
Will I still be able to use my debit card?
Yes, you will continue to be able to use your current debit card following the closing of the transaction. We will provide you with a new debit card for use after the systems conversion.
Will my online banking change?
Until the systems conversion, you will continue to access your online banking as you do now. As of the date following the systems conversion, you will have access to Pima Federal’s secure online and mobile banking platform, which offers many easy and convenient options to help you manage your finances and customize your preferences.
Will my direct deposit still work after the closing of the transaction?
Yes, your direct deposit and automated regular withdrawals will continue to work without interruption after the closing of the transaction. After the systems conversion, the routing number associated with your account will change to 322174795. After the date of the systems conversion, you will likely need to change any recurring payments to your new Pima Federal account number and to Pima Federal’s routing number. However, we will work with you to ensure there is no interruption to your electronic direct deposit or automated regular withdrawals.
Will the products and services offered by Republic Bank be the same products and services offered by Pima Federal?
Pima Federal intends to provide all of the equivalent products and services currently offered by Republic Bank following the closing of the transaction. Pima Federal will also provide products and services in addition to those currently offered by Republic Bank, including a comprehensive suite of consumer and mortgage products. For more information on Pima Federal’s products and services, please visit https://www.pimafederal.org. In addition, there is a comparison of Republic Bank and Pima Federal products and services at the end of the FAQs.What will happen to my loans and other non-deposit accounts?
It is anticipated that all loans and other non-deposit accounts will transfer to Pima Federal upon closing of the transaction unless you desire to pay-off the loan or close your non-deposit account. There may be loans, however, that Pima Federal may not be permitted to acquire from Republic Bank due to restrictions imposed by its primary regulator, the NCUA. Any loans that cannot be acquired by Pima Federal may be moved to a Pima Federal-affiliatedcredit union service organization (“CUSO”) or sold to another entity. Any impacted customers will be promptly notified if their loan will be transferred to a CUSO or sold to another entity. Upon the closing of the transaction, all loans that are transferred to Pima Federal will continue to have the same terms, payments, and loan rates as such loans had before the closing of the transaction, and all other terms will remain consistent with the loan contract. Pima Federal will notify you in advance of changes, if any, to your loan payments following the systems conversion. We are working to make the transition from Republic Bank to Pima Federal as seamless as possible.