Phoenix-area credit union rebrands after merger

Following last year's merger of equals between Canyon State Credit Union and Deer Valley Credit Union, the combined entity has changed its name to Copper State Credit Union.

The Phoenix, Ariz.-based credit union’s new name became effective on June 13.

“The name Copper State Credit Union felt right for us,” Robb Scott, CEO of Copper State, said in a press release. “Copper is a metal that symbolizes strength.”

The $456 million-asset credit union has been an active acquirer of Phoenix CUs. Most recently, the $15 million-asset Southwest HealthCare Credit Union merged into the institution in April.

Copper State lost roughly $457,000 in the first quarter, compared with earning about $208,000 for the same period a year earler, according to call report data from the National Credit Union Administration. It recorded $756,000 in charge-offs, an increase of 339% from a year earlier, and its delinquent loans nearly doubled.