GENERAL INFORMATION

Why is GECU acquiring Bank of the Southwest?

GECU has a longstanding mission of providing underserved communities with the financial products and services they need to achieve financial well-being.

Where are we in the acquisition process?

The acquisition was approved by the National Credit Union Administration (NCUA), the Federal Deposit Insurance Corporation (FDIC), and the New Mexico Regulation and Licensing Department, Financial Institutions Division (NMRLD). Once the acquisition is formally completed on November 1, 2026, we can begin integrating our two organizations.

What does it mean that GECU has received regulatory approval?

It means that the National Credit Union Administration (NCUA), the Federal Deposit Insurance Corporation (FDIC), and the New Mexico Regulation and Licensing Department, Financial Institutions Division (NMRLD) have approved the acquisition.

What are the benefits of this acquisition?

Our united capabilities will help further strengthen the impact of serving our customers and enhance our range of exceptional financial products and services so we can help more people, families, and businesses on their financial journeys. Following the completion of the acquisition, the new entity will become a $4.9 billion credit union serving more than 449,000 members nationwide and beyond. We have the scale and resources to create an even greater impact through organizational growth, job opportunities and community investment.

Are both institutions financially stable?

Yes. Both financial institutions are financially sound and stable, which made uniting the two organizations a strategic value proposition and set the stage for a strong combined organization that can support even more members and businesses with their financial needs.

Do GECU and Bank of the Southwest share similar values?

Yes. GECU and Bank of the Southwest values are closely aligned—sharing a people-first mission and a commitment to improving the financial lives of our customers and the communities we serve.

What can customers expect through the acquisition process?

Customers will experience no immediate changes as the two organizations will operate independently, pending completion of the acquisition. We’ll legally combine on November 1, 2026, under the GECU Federal Credit Union name, with GECU and Bank of the Southwest expected to operate as independent divisions during the integration period.ACCOUNT INFORMATION

Will my accounts change?

In the coming months, we will begin our phased approach of integrating our processes. Access to your Bank of the Southwest accounts will not change. We will notify you in advance of any changes.

Will the rates offered to customers be affected by the acquisition?

The rates we offer our customers are always dependent on the general market and the external interest rate environment.

Are there concerns that fraudsters will try to take advantage of the acquisition?

Fraud prevention will always be top of mind no matter what we do. Here’s what you need to know as a customer:

Please do not open or engage with any messages urging you to take action on your account related to this announcement. Bank of the Southwest will never reach out to ask you for login or personal information. Please remain vigilant about any communications you receive.

If I have more questions, where can I go for additional information?

We will update this page from time to time and encourage you to check back.