Jun. 6—Nusenda Credit Union on Tuesday said it plans to acquire Las Cruces-based Western Heritage Bank, a move that will grow the state's largest credit union's presence in Southern New Mexico and Texas.

Nusenda, which didn't disclose the cost of the acquisition, said it expects the deal to be completed either later this year or in early 2024.

Once complete, the addition of Western Heritage's branches — it has one in Las Cruces, one in Deming and four in El Paso — will bring Nusenda's location count to 29, and will be its first branch foray into Texas.

Western Heritage's six branches will also rebrand to Nusenda, spokesman Eric Harrison told the Journal.

"The combination of our two community-focused institutions that share similar beliefs about customer service, community impact, and employee well-being will be beneficial to Nusenda Credit Union members and to Western Heritage Bank customers in the Borderplex region," Nusenda President and CEO Joe Christian said in a statement. "Our cultures are strongly aligned, and we share a focus on putting people first."

The pending acquisition of Western Heritage follows Nusenda's expansion into southern New Mexico two years ago when it opened its first Las Cruces branch near New Mexico State University.

The credit union has steadily grown its membership base in the area, boasting more than 6,500 members between Las Cruces and Texas. And when Western Heritage's customer base is added, Nusenda will have roughly 7,500 new members. Combined, Nusenda estimates it will have more than 260,000 members once the acquisition is complete.

Assets at both financial institutions have proven strong in recent years. Nusenda's assets stand at more than $4 billion and Western Heritage's at roughly $338 million. That has earned both Nusenda and Western Heritage 5-star ratings from BauerFinancial Inc.

For Nusenda, which was founded in 1936 as Albuquerque Public Schools Federal Credit Union, this is the first big shift for the company since 2013 when it merged with New Mexico Energy Federal Credit Union.

Harrison told the Journal Nusenda and Western Heritage began discussions "several months ago and discovered we share very similar cultures and complementary locations and offerings."

"This is a win-win for both of our organizations and the people we serve," Greg Cory, president and CEO of Western Heritage, said in a statement. "We are excited to bring additional resources to our clients and plan to continue our tradition of serving our local communities."