Case Study: Pima Federal Credit Union retains millions in deposits with ModernFi

How Pima Federal Retained Millions During a Bank Acquisition

Pima Federal Credit Union faced the significant challenge of retaining millions in deposits from large, sophisticated accounts after its acquisition of Republic Bank of Arizona. These key depositors were at risk of leaving because their previous extended deposit insurance coverage was being discontinued. The credit union needed a seamless solution to maintain this coverage and preserve both the funding and member trust critical to the acquisition's success, leading them to partner with ModernFi.

ModernFi implemented a tailored deposit insurance solution that kept funds on the credit union's balance sheet while providing high insurance limits and reciprocal coverage. Their team provided a custom transition plan, direct support for relationship managers, and a hassle-free onboarding process that took just minutes per account. The results for Pima Federal were immediate; they successfully retained millions in deposits, empowered their staff for future growth, and strengthened their competitive positioning in the market.

Pima Federal Credit Union

Katelyn Brown

VP Accounting & Finance