Apple Federal Credit Union and NextMark Credit Union Announce Intent to Merge

Apple Federal Credit Union and NextMark Credit Union are excited to announce a joint decision to merge. If approved, the combined credit union will have assets of more than $4.8 billion, more than 260,000 members and 25 branches throughout Northern Virginia.

The partnership is rooted in shared values and a strong commitment to member service. Both credit unions hold a deep dedication to their members, employees and communities, as well as a common vision for the future. “We are thrilled to be welcoming NextMark into the Apple team. They are a financially sound credit union with a long history of exceptional service to our mutual community”, said Andy Grimm, Apple’s President/CEO. “The combination of both credit unions will provide scale and a powerful synergy that benefits the members of both institutions.”

Joe Thomas, President/CEO of NextMark, agreed. "We are excited about the opportunity to merge with Apple,” Thomas said. “Our members will gain access to more than 20 new branch locations, and an expanded products suite, including business banking, and wealth management and insurances services. We are strengthening our commitment and value to members, employees, and the communities we serve.”

Following the anticipated November 2024 merger, the combined Credit Union will do business as Apple Federal Credit Union. Andy Grimm will continue as Apple’s President/CEO; Joe Thomas will join Apple in a strategic advisory role as Executive President.

As member-owned cooperatives, and under the guidelines of the National Credit Union Association, the merger is contingent upon both NCUA and NextMark’s member approval. The merger is set to be finalized before the end of 2024. As the merger process moves forward, both credit unions will provide information to their respective memberships via their websites (www.applefcu.org and www.nextmarkcu.org), and other applicable communication channels.