In a move aimed at business line expansion and scaling, U.S. Eagle Federal Credit Union, based in Albuquerque and New Mexico’s largest credit union, plans to acquire its rival, Southwest Capital Bank. This transaction, marking the 14th credit union-bank merger this year, pushes the industry closer to an annual record of such deals, potentially surpassing the all-time high of 16 set in 2022. The acquisition will also enhance U.S. Eagle’s presence in several New Mexico markets and bolster its cannabis lending operations, responding to the fast-growing recreational cannabis industry in the state. Deal terms remain undisclosed, with the acquisition slated to close by Q2 2025. This transaction forms part of a broader surge in bank mergers and acquisitions sweeping across the industry, accentuated by improving economic conditions and anticipated interest rate cuts by the Federal Reserve.
Financial Services, Cannabis Industry, Merger & Acquisition Advisory,United States, New Mexico
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