On Nov. 17, 2025, GECU Federal Credit Union of El Paso, Texas, announced it has entered into a definitive agreement to acquire substantially all of the assets and liabilities of Bank of the Southwest of Roswell, New Mexico.

GECU Federal Credit Union has $4.4 billion in assets, 28 branches and over 435,000 members. Bank of the Southwest has $187 million in assets and operates 11 branches across New Mexico. Following completion of the acquisition, which is subject to approval from the National Credit Union Administration (NCUA), the Federal Deposit Insurance Corporation (FDIC) and the New Mexico Financial Institutions Division, the combined entity is projected to emerge as a $4.7 billion organization serving more than 440,000 members and customers.

Doeren Mayhew, a leading credit union advisory firm, served as the exclusive financial advisor to GECU Federal Credit Union. The team was led by David Milkes, Principal of Doeren Mayhew Advisors, LLC, who heads the M&A and Strategic Advisory Group in the firm’s Financial Institutions Group practice.

With over 45 years of industry experience, Doeren Mayhew’s Financial Institutions Group has advised on over 200 credit union M&A transactions. Learn more about our credit union merger advisory services today.