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Deer Valley CU, Canyon State CU merge

Phoenix-based Deer Valley CU and Canyon State CU officially merged Oct. 1, according to a news release posted on CUInsight.com.

Deer Valley CU CEO Robb Scott will be the sole CEO of the combined institution. Chris Urness and Paul Waterman are co-chairs of the new merged board.

No layoffs or branch closures are expected as part of the merger.

The two credit unions plan to join their systems in 2020. A new name for the combined organization will be determined in early 2020, according to an announcement on Deer Valley CU's website.