El Paso, Texas-based GECU is acquiring Roswell, N.M.-based Bank of the Southwest..Announced Nov. 13, the deal is expected to result in a $4.7 billion credit union with more than 30 branches serving 440,000 members and customers. As of Sept. 30, Bank of the Southwest had $186.7 million in assets, $168.9 million in total deposits and $115.2 million in net loans and leases. The price of the deal has not been disclosed. Bank of the Southwest has nearly a dozen branches in New Mexico, including Roswell, Las Cruces, Farmington, Truth or Consequences and Elephant Butte. “Bank of the Southwest shares our Southwest roots, commitment to financial well-being for all, and our common interest in helping people,” said GECU President and CEO Crystal Long.
