Global Federal Credit Union and First Financial Northwest announce expected closing date for transaction
Subject to Regulatory Approval
Anchorage, Alaska and Renton, Washington – As of Saturday, April 12, 2025, Global Federal Credit Union (“Global”) is officially managing the operations of First Financial Northwest Bank (FFNWB). In an agreement that closed at midnight last Friday, Global, with headquarters in Anchorage, Alaska, acquired substantially all assets and assumed substantially all liabilities (including deposit liabilities) of FFNWB, headquartered in Renton, Washington.
Global will operate the locations of the bank as a separately branded division named “First Financial Northwest Operated by Global Federal Credit Union,” until system and brand integrations are completed later in 2025. Global’s Chief Strategy Officer, Jason Sasena, has been named acting President of the division.
The acquisition will expand Global’s business and commercial services to all its member businesses in the five states in which it operates and bring full access to Global’s extensive product and service offerings to former First Financial Northwest Bank customers. “This is the next step on this journey to offer enhanced business and commercial products, while growing our presence in Western Washington,” said Geoff Lundfelt, President and Chief Executive Officer of Global.
About Global Credit Union
Global Credit Union is a not-for-profit, member-owned financial cooperative with the mission of enriching lives through world-class financial services. Global was founded in 1948 at the Alaska Air Depot and now serves near 800,000 members online and has more than 70 branches across Washington, Alaska, Idaho, California, and Arizona, as well as branches on three U.S. military installations in Italy. Learn more at globalcu.org.
About McQueen Financial Advisors
McQueen Financial is a nationwide financial advisory firm serving financial institutions since 1999. McQueen has advised on ~25% of all Credit Union / Credit Union Mergers nationwide, annually.
Transaction Leads
Dan Martin
Director of Transaction Advisory & Valuation
Andre Gard
Associate
Noah Erxleben
Analyst