Security Service acquires Utah-based First Federal

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Security Service Federal Credit Union has acquired Utah-based Family First Federal Credit Union.

San Antonio-based Security Service, operates 64 locations in Colorado, Utah and Texas – including four in Colorado Springs – and has more than $6 billion in assets and more than 800,000 members.

This acquisition in Utah will add about 18,000 members and $119 million in assets to its network.

In July, the National Credit Union Administration placed First Federal in conservatorship, recently authorizing Security Service to assume the credit union’s assets, liabilities and members.

Security Service expanded into the Utah market in December, when it acquired Beehive Credit Union of Salt Lake City.