- Merger Details: DCU and First Tech Federal Credit Union, two US-based credit unions, plan to merge by 2025, creating a combined $28.7 billion financial institution.
- Current Overview:
- DCU: Founded in 1979, based in Massachusetts, with $12 billion in assets, serving 1.1 million members across the US and Puerto Rico.
- First Tech: Based in San Jose, California, with nearly $17 billion in assets, serving 600,000 members, including employees from tech giants like Microsoft, Intel, and Amazon.
- Post-Merger Entity: The merged organization will operate under the First Tech Federal Credit Union name but will use DCU’s charter.
- Leadership: DCU’s President and CEO Shruti Miyashiro will lead the merged organization, while Greg Mitchell, the current CEO of First Tech, will retire at the end of 2025.
- Operations: Initially, both credit unions will operate independently until full integration of systems is completed.
- Philanthropy: The new organization plans to donate over $4 million annually to local communities, becoming the largest national philanthropic leader in the credit union industry.
Digital Federal Credit Union and First Tech Federal Credit Union to merge
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