Exciting News from the Banking World: Republic Bank of Arizona’s Asset Sale to Pima Federal Credit Union
Phoenix, AZ – March 17, 2025
In a recent press release, RBAZ Bancorp, Inc. (OTCPK: RBAZ), the parent company of Republic Bank of Arizona, shared some exciting news. After obtaining all necessary regulatory approvals and approval from RBAZ shareholders, the sale of substantially all of Republic Bank’s assets and liabilities to Pima Federal Credit Union is set to be completed on May 2, 2025.
What Does This Mean for Customers?
For Republic Bank’s valued customers, this transition means that their accounts will be assumed by Pima Federal Credit Union. This change will not affect the day-to-day banking experience, as Pima Federal plans to honor all existing accounts, loans, and lines of credit. Customers can continue to access their accounts through their current banking channels, including online banking and mobile apps.
A New Era for Republic Bank’s Customers
Joining forces with Pima Federal Credit Union will provide Republic Bank’s customers with additional benefits, including access to more financial products and services. Pima Federal is known for its commitment to its members, and this partnership is expected to enhance the banking experience for Republic Bank customers.
Impact on the Wider Community
This acquisition is not just a win for the customers of Republic Bank and Pima Federal Credit Union. It also reinforces the vibrant banking landscape in Arizona, demonstrating the ongoing commitment of financial institutions to serve their communities. As Pima Federal continues to grow, it will bring more opportunities for economic development and financial inclusion in the region.
A Look at Pima Federal Credit Union
- Pima Federal Credit Union is a member-owned financial cooperative that has been serving the community since 1952.
- As of December 31, 2024, Pima Federal had $2.5 billion in assets and served over 150,000 members.
- The credit union offers a comprehensive range of financial products and services, including checking and savings accounts, loans, credit cards, and online and mobile banking.
As this news unfolds, it’s an exciting time for both Republic Bank customers and the wider community. With Pima Federal’s commitment to serving its members, the future looks bright for those who bank with Republic Bank of Arizona.
Conclusion
In summary, the sale of Republic Bank of Arizona’s assets and liabilities to Pima Federal Credit Union marks a significant milestone in the banking industry. This partnership will bring numerous benefits to Republic Bank customers and the wider community, including access to a broader range of financial products and services. As the two institutions join forces, we look forward to witnessing the positive impact on the banking landscape in Arizona.
