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Alaska USA Rebrands as “Global Credit Union”

Jan 27, 2023 | Finance, News

alaska usa

Alaska Business

Since forming in 1948 as Alaska Air Depot Federal Credit Union, the state’s largest financial institution by revenue has expanded beyond Alaska. However, even the name Alaska USA Federal Credit Union is too small for a co-op that has grown internationally. Thus, a new name: Alaska USA is becoming Global Credit Union, effective April 3.

Worldwide Reach

The name comes directly from the Spokane-based institution that Alaska USA acquired in 2022. Although Global Credit Union was the smaller party, with 45,000 members to Alaska USA’s 700,000, it gave the combined entity a truly worldwide reach. Among its twelve branches, Global Credit Union has three in Italy servicing US military installations. Alaska USA has members residing in twenty foreign countries and all fifty states.

The new name, the fifth in the organization’s history, also connects to a recent update to the credit union’s charter that allows US Department of Defense personnel to join from anywhere in the world.

The member-owned cooperative’s headquarters will remain in Anchorage with the current board of directors and executive management, including President and CEO Geoff Lundfelt.

“As this name change is implemented, our members will continue to receive the products and professional service they have come to know and expect from us,” Lundfelt says. “We are excited to welcome this new chapter, and we look forward to reinforcing our commitment to our current members and embracing prospective members as we transition to the new name.”

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Alaska Business May 2024 Cover

May 2024

Members will continue to access account information and their normal products and services in the same way they always have—in branches, online, and through a 24/7/365 contact center. All existing card products, checks, and credentials for online account access will continue to work after the name change.

Alaska USA expanded into Washington by merging with Whidbey Federal Credit Union in 1983. The company entered California by acquiring High Desert Federal Credit Union in 2009 and Arrowhead Credit Union the following year. A single branch opened in Glendale, Arizona in 2014 was joined by seven more in 2020 by an acquisition from TCF Bank.

Alaska USA has approximately 2,200 employees and seventy-nine branches in Alaska, Washington, Idaho, California, and Arizona. The merger with Global Credit Union boosted assets to nearly $12 billion, making the combined entity one of the fifteen largest credit unions in the country.

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The track of oil and gas development in Alaska shows the footprints of bold companies and hard-working individuals who shaped the industry in the past and continue to innovate today. The May 2024 issue of Alaska Business explores that history while looking forward to new product development, the energy transition for the fishing fleet, and the ethics of AI tools in business.

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